Tesis: "Environmental finance"

1

Humavindu, Michael N. "Essays on public finance and environmental economics in Namibia". Licentiate thesis, Umeå : Department of Economics, Umeå University, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-1163.

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Bardella, Martina <1994&gt. "A new way of doing finance: the green environmental path". Master's Degree Thesis, Università Ca' Foscari Venezia, 2019. http://hdl.handle.net/10579/14146.

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The thesis consists of five chapters. The first one represents an introduction to the wide notion of Green Economy and provides some deeper insight about Green Finance, a more specific topic in the general framework of Green Economy. The second one deals with National Appropriate Mitigation Actions, NAMAs for short. The third chapter focuses on a topical theme within the Green Finance context, which summarizes in the expression Climate Finance. The fourth chapter is the result of three different studies: first it provides a criterion explaining which kind of funds should be invested in (between green and non-green funds); secondly it carries out the analysis of an Environmental Pollution Index; finally, it tries to assess whether investing in green portfolios may be convenient in terms of financial performances, with particular reference to the Indian market. Lastly, the final chapter introduces and describes a new kind of bank the so-called Green Investment Bank.

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3

Alessandrelli, Luca <1995&gt. "Finance in support of environmental sustainability: green bonds market analysis". Master's Degree Thesis, Università Ca' Foscari Venezia, 2021. http://hdl.handle.net/10579/19042.

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This paper aims to analyze the Green Bonds market. Environmental sustainability is nowadays a crucial issue that each of us must consider, and finance, too, has a duty to propose solutions in this regard. Initially, there is an introduction regarding the motivations, the historical context, and the decisions that, over the years, have led to the outlining of precise standards that must be respected in order to avoid irreparable consequences. Then, the birth, the diffusion and the growth of the green bonds market will be analyzed. This part is aimed at providing an overview of the functioning, features and spread of these tools, emphasizing their increasing attention received by the whole world. Subsequently, an empirical analysis will take place. The study will analyze the performance of these instruments which, although relatively young, are becoming increasingly successful. Finally, the results of the analysis will be presented.

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4

Benouaich, David (David Olivier) 1970. "Financing and ownership structures in international project finance". Thesis, Massachusetts Institute of Technology, 2000. http://hdl.handle.net/1721.1/9093.

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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2000.
Includes bibliographical references (leaves 127-131).
In the past twenty years there has been a new wave of global interest in project finance as a tool for financing capital-intensive projects all around the world. The crucial elements in structuring a project finance transaction are: the risk allocation process, the determination of the best type of ownership structure, and the development of a complete and integrated set of financial and contractual arrangements. This thesis examines the ownership and financing structures in International Project Finance. Selection of the form of business organization for a project is an important step in project development and depends on a variety of business, legal, accounting, tax and regulatory factors. This thesis presents four forms of ownership structure most frequently used for developing a project and highlights the reasons of selecting one of them. The variety of sources of funds, with a trend towards the increasing development of sophisticated capital market instruments, provides project sponsors with flexibility to select the appropriate structure to finance a project. This thesis presents the three types of capital used in project financing and details the alternatives for financing a project from its development phase to its operating phase showing that the project financing is a dynamic process. After having developed a basic framework for structuring an international project finance transaction, this thesis ends by exposing projects financed on a project-financing basis. These projects are characterized by some specific features, such as refinancing prior to project completion or use of capital market financing.
by David Benouaich.
S.M.

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5

Stefanakis, Vion. "Role of capital markets in global infrastructure finance". Thesis, Massachusetts Institute of Technology, 1996. http://hdl.handle.net/1721.1/40157.

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6

Kato, Koji 1964. "Private finance initiative and major construction firms in Japan". Thesis, Massachusetts Institute of Technology, 2001. http://hdl.handle.net/1721.1/34347.

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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2001.
Includes bibliographical references (p. 240-244).
The Japanese construction industry has long been in recession, and the recession is predicted to continue into the future because both national and local governments lack the necessary resources. The "Private Finance Initiative" (PFI), which utilizes the private sector's technical, financial, and managerial resources to deliver more efficient and higher quality public facilities, has recently been launched in Japan with a special enactment. The PFI gives substantial opportunities to many Japanese industries, and especially to major construction firms (MCFs), which have collective strength and experience in developing technologies and projects. However, since participants in a PFI project must invest in the project as a whole, only those who can evaluate, manage, and properly assume the involved risks deserve the opportunity. Based on the background of the Japanese construction industry and the findings from the case studies relevant to the private toll road project or the Japanese PFI, this thesis develops a framework for prospective toll road/bridge/tunnel projects utilizing the Japanese PFI scheme. For the viable types of projects (such as bridges/tunnels or bypass road projects with technically complicated structures and sufficient traffic volume projections), this thesis identifies project structures that are desirable with regard to government supports and risk sharing. A real public-private partnership, which implies joint efforts and initiatives with eagerness to implement the Japanese PFI, is always essential to the development of such a PFI project. This thesis also proposes two strategies for an MCF to face the Japanese PFI. Differentiation strategy may be attained through financial strength, special talent and experiences, differentiated technologies and patents, and proper equipment. Under certain conditions, such as if the project includes a large potential to develop innovative construction means, MCFs should consider an equity contribution strategy to exploit equitable returns. Simulations of a prospective toll bridge project are also applied in the thesis to test the viability of the framework and the strategies.
by Koji Kato.
S.M.

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7

Armstrong, Alison J. "Perceived environmental control over interuniversity athletics in Canada: A resource dependence perspective". Thesis, University of Ottawa (Canada), 1992. http://hdl.handle.net/10393/7686.

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The purpose of this study was to determine whether those environmental elements which provide financial resources to the organization were perceived by the athletics directors to have control over the interuniversity athletics program. A theoretical framework, which incorporated the Emerson (1962) power-dependence theory of social exchange relations, and the concepts of resource dependence and power, was developed to examine the following hypothesis: The interuniversity athletics organization is perceived to be controlled by the elements (individuals, groups, organizations) in its environment in relation to its relative resource dependence on those elements. Another purpose of the study was to examine Emerson's power-dependence theory in the context of interuniversity athletics. Athletics directors from 34 (75.5%) of the 45 interuniversity athletics organizations in Canada completed the Survey of Canadian Interuniversity Athletics Programs and an accompanying interview. The survey elicited information about the organization's resource dependence on various sources in its environment, in terms of relative funding, as well as perceptions of the control of 15 environmental elements over seven basic activities of the organization, and overall. The interview was useful for further investigating the dynamics of perceived control. The organization, itself, was included as one of the elements. Univariate ANOVAs with repeated measures on the environmental elements were used to further describe organizational autonomy and perceived environmental control, and t-tests were employed to compare the organization's relative resource dependencies. The study concluded that perceived environmental control was varyingly associated with the organization's resource dependence on its environment. The findings imply that perceived control may be based in other dependencies, which warrant examination. Although there was limited support for the power-dependence theory in the context of interuniversity athletics and financial dependence, it may be more appliable when other relevant dependencies are considered. (Abstract shortened by UMI.)

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8

Kojima, Masashi 1968. "Overseas projects finance by international institutions for Japanese construction firms". Thesis, Massachusetts Institute of Technology, 2004. http://hdl.handle.net/1721.1/29386.

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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2004.
Includes bibliographical references (p. 95-100).
This thesis analyzes the relationships between Japanese construction firms, and overseas projects financed by international institutions, such as the World Bank Group, United Nations, ADB, IDB, JBIC, and JICA. Japanese construction firms have as large revenues as other international construction firms in the world. However, the scale of overseas business is quite small compared to that of their domestic activities. Today firms in the Japanese construction industry suffer from the shrinking Japanese construction market. To survive in the future, exploring overseas construction markets is an option for Japanese construction firms. To expand their business overseas, Japanese construction firms should explore the possibilities of increasing contracts financed by international institutions, because payments and contracts for these projects are more secure than those of other financing sources, such as governments of developing countries. As the first step in increasing overseas revenues, projects financed by international institutions become appropriate starts for Japanese construction firms. On the other hand, today the Japanese government is one of the largest sponsors of international institutions. It contributes substantial funds to multilateral financing institutions as well as to Japanese bilateral financing institutions. The government has made extensive contributions to constructing projects in developing countries through these international institutions. However, the number of projects awarded to Japanese construction firms from these international institutions has been extremely small, compared to the substantial contributions made by the Japanese government to those countries.
(cont.) In this paper, we study the current tendencies of international institutions, analyzing data of projects they finance. By analyzing these data, we can determine the identity of major players as well as the position of Japanese construction firms in these markets. Based on these analyses, we also discuss how Japanese construction firms may increase their international business in the future.
by Masashi Kojima.
S.M.

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9

Askin, Jacalyn Ann. "Community college funding: Environmental and institutional influences". Diss., The University of Arizona, 2006. http://hdl.handle.net/10150/282905.

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Community colleges are unique among higher education institutions in their potential access to local appropriations as well as state funding. Twenty-six states reported to the Education Commission of the States in 2001 that community colleges in their states received some share of local funding. In research question one, using data for 781 public community colleges, we explore the implications of resource dependency theory for mission differentiation between dual-funded and state-funded colleges. Research question two studies the influences of state demographics, economics, politics and college governance on state and local appropriations. We examine how these factors similarly and differently influence the two streams of public funding as well as how the two interact. We also investigate the question of whether local appropriations "pay off" for community colleges. This work extends prior research that has focused on funding for higher education in the aggregate or for four-year colleges and universities.

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10

Zarbakhsh, Hallie Ida. "The Potential of Islamic Finance for Environmental Sustainability and Social Equity in Iran". Ohio University Honors Tutorial College / OhioLINK, 2016. http://rave.ohiolink.edu/etdc/view?acc_num=ouhonors1461334909.

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11

Randalls, Samuel Cecil. "Firms finance and the weather : the UK weather derivatives market". Thesis, University of Birmingham, 2006. http://etheses.bham.ac.uk//id/eprint/327/.

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The spectre of climate change is motivating businesses to evaluate the weather sensitivity of their operations and earnings. Persistent changes in day-to-day weather, such as a warmer than average winter, may prove very costly for businesses and since 1997 a new financial market has grown up around the mitigation of these day-to-day weather risks. This weather derivatives market has expanded from being a small US energy product to become a $45.2 billion industry by 2006. In the process this commodification of weather indexes is re-valuing meteorological data, forecasts and expertise, as well as changing the ways in which firms have traditionally considered weather as unmanageable. This thesis presents an empirical examination of the weather derivatives market, particularly focusing upon the UK, drawing upon in-depth interviews with market participants. Setting this within the context of current theories in human geography and science studies, the research also illustrates the material and discursive implications weather derivatives are having not just on firms and meteorology, but also climate change policies.

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12

Medved, Marko 1966. "Portfolio analysis of delivery and finance methods in U.S. Navy family housing". Thesis, Massachusetts Institute of Technology, 2000. http://hdl.handle.net/1721.1/80971.

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13

Al-Jassar, Sulaiman Ahmed. "International project finance : the case of Kuwait Fund for Arab Economic Development". Thesis, Massachusetts Institute of Technology, 2005. http://hdl.handle.net/1721.1/46553.

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Thesis (Ph. D.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2005.
"September 2005."
Includes bibliographical references (leaves 148-150).
This thesis examines the record of the Kuwait Fund for Arab Economic Development (KFAED) in light of changing fashions regarding the proper role and management of such funds in the development finance process. The key questions addressed are whether its concessional aid is allocated according to Donor Interest (DI) or Recipient Needs (RN), what precisely is the grant element in KFAED loans, whether this grant allocation is consistent with the fund's stated policy and if it is linked to one or more of the currently held views regarding how aid should be allocated in order to be most effective - to overcome the "two gaps," to strengthen institutions and governance or to reward/incentivize effective macroeconomic management. The KFAED is an interesting and important subject of study for many reasons. After Saudi Arabia, Kuwait is the second largest Arab aid donor, having contributed a total of more than $18.5 billion between 1960 and 2002. It was the first to officially establish a bilateral aid institution: KFAED, which purports to be free of mercantilist motives as its aid is not tied to procurement, as is the case with most developed countries' aid institutions. The thesis consists of three mutually dependent sections. The first surveys the domain of theoretical and empirical development economics since World War II. It reviews its evolution over time, linking successes and failures in development aid to the refinement of macroeconomic points of view among various schools of thought. Since the implementation of any economic policy is highly sensitive to the political goals of the policy makers, we show that the evolution of macroeconomic theory is not, in itself, able to account for Kuwait Foundation for the Advancement of the Science's partial funding of this research, under grant 2005-12-01, is acknowledged. changes in the pattern of development aid. "Fashions" in such aid reflect not only the past history of aid itself, but also the histories of the donor nations or their multi-lateral vehicles. Our specific interest in regional Arab geopolitical development is contextualized in order to trace the effects of development theory evolution on the Middle Eastern region.
(cont.) The second section studies the aid allocation of the KFAED. It seeks to determine, among other things, whether the allocation of aid reflects recipient needs or donor interest. We modeled the allocation decision as a two-stage process: selection and allocation. The empirical analysis demonstrates that income, ethnicity, religion and politics are all factors in the selection stage. Arab, Muslims countries and more populous countries receive a higher share of the total aid allocated (allocation stage). The third section extends the second by adding the third stage: grant element determination. It addresses two questions: how grant element is calculated and what factors influence its allocations. In addressing the first question, we offer a rationale for an adjusted discount rate in calculating grant element--the percentages of subsidy embedded in the loan. When this rate is applied, the results point to consistent overestimation of the traditionally published grant element statistics. We then examine the grant element allocation. We find that the actual allocation is quite different than that implied by the stated policy of the KFAED. Chief among the sources of variation are political factors, income and sectors. Finally, we test to see if the current grant element allocation is in line with any of the three views regarding how aid should be allocated: the two gap, macroeconomic management, and governance and institutions building. We find that it is weakly related to the two-gap view, but appears to bear no relation to the other two.
by Sulaiman Ahmed Al-Jassar.
Ph.D.

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14

Enriquez-Savery, Sherlene. "Statistical Analysis of a Risk Factor in Finance and Environmental Models for Belize". Scholar Commons, 2016. http://scholarcommons.usf.edu/etd/6231.

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The objectives of the study are to review and evaluate four basic risk models that are commonly used in investment science; statistically investigate the risk factor in Capital Asset Pricing Model (CAPM) that is used to reflect the safety of an investment decision in stocks; explore the statistical distribution of monthly precipitation in Belize and to forecast tourist arrivals using statistical time series modelling techniques. The risk models are the Capital Asset Pricing Model (Sharpe-Linter Version), Capital Asset Pricing Model (Conditional Version), Arbitrage Pricing Theory, and Fama–French three-factor model adopted in empirical investigations of asset pricing. The underlying assumptions of using these models are reviewed, and the statistical procedures to evaluate their robustness are reviewed. It will be shown that the present manner of determining this risk factor is quite sensitive and misleading. We introduce a statistical procedure for obtaining a more robust measure of the risk factor commonly referred to as CAPM beta. Changes in the hydrological cycle will generate repercussions in all sectors. It is therefore imperative that Belize’s water resources be managed in an integrated manner, responding to the requirements of all sectors. Daily rainfall data have been collected for a period of 51 years (1960– 2011) from The National Meteorological Service of Belize. The Wakeby distribution adequately fit the monthly rainfall data producing a suitable model based on the Kolmogorov – Smirnov test. Tourism is vitally important to the entire Belize’s economy, contributing 50% of Belize's gross domestic product in 2015. It is the foremost foreign exchange earner in this small economy, followed by exports of marine products, citrus, cane sugar, bananas, and garments. The tourist sector is not without its vulnerabilities and is subject to international economic vagaries. In order to meet the expected future demands on the industry in terms of service delivery it is important that the sector understands the significance of forecasting.

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15

Silva, Manoel Sampaio da. "Environmental education and sustainability: eco-relational approach in the settlement of Finance angico". Universidade Federal do CearÃ, 2013. http://www.teses.ufc.br/tde_busca/arquivo.php?codArquivo=10482.

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nÃo hÃ
O reconhecimento da EducaÃÃo Ambiental como um importante mecanismo de interaÃÃo polÃtico-social e econÃmica e fator essencial Ã melhoria da qualidade de vida das pessoas do meio rural, incentivou a intenÃÃo de desenvolver esta pesquisa com as famÃlias assentadas da Fazenda Angico, no sentido de assegurar a sustentabilidade local em uma perspectiva ecorrelacional. Nesse sentido, realizou-se uma pesquisa qualitativa, fundamentada numa pesquisa bibliogrÃfica e de campo, do tipo estudo de caso, das percepÃÃes dos assentados em relaÃÃo aos aspectos ecolÃgicos e Ã utilizaÃÃo dos recursos naturais existentes na Ãrea, de forma a assegurar a sustentabilidade do meio. Nessa perspectiva, procurou-se um estudo das implicaÃÃes e contradiÃÃes das prÃticas educativas dos assentados no nÃvel de consciÃncia ecologicoambiental; adotou-se uma metodologia com a aplicaÃÃo de entrevistas com 17 autores sociais vistos como referÃncias no assentamento, contando com a contribuiÃÃo da Perspectiva Ecorrelacional-PER sobre as prÃticas socioambientais responsÃveis, executadas pelo coletivo das famÃlias; que possam auxiliar na elaboraÃÃo de uma proposiÃÃo interventiva; O objetivo geral do estudo Ã analisar as prÃticas socioambientais das famÃlias assentadas como dispositivo colaborativo na formaÃÃo de uma consciÃncia ecorrelacional; as prÃticas ambientais ancestrais, que ainda sÃo executadas pelo coletivo dos assentados relacionados ao solo, terra, Ãgua, agricultura, criaÃÃo dos animais, o lixo, agrotÃxicos. Foram constatadas prÃticas socioambientais no cotidiano dos assentados do Angico no trato com as sementes, no cuidado diÃrio para o nÃo desperdÃcio da Ãgua, bem como no relacionamento com os recursos do solo, da fauna e da flora, destacando, principalmente, a convivÃncia harmoniosa entre si.
The recognition of environmental of education as an important mechanism of politico-social and economic interaction, and essential factor to the improvement of people life quality in rural areas encouraged in me the desire to develop this research with families settled in Angico Farm, aiming to ensure the local sustainability in an ecorelational perspective. Accordingly,a qualitative study based on a bibliographic and local research was carried out, a case study of settled people perception relating to the ecological aspects and to the use of the natural resources of the place, aiming to ensure the place sustainability. In this perspective, it was sought to study the implications and contradictions of educational practices of settled people in the ecological environmental consciousness level. It was used a methodology with interviews with 17 social authors who were references into the settlement, with input of Eco-relational Perspective-PER on the responsible socio environmental practices executed by the group of families, which can help in the construction of an interventional proposition. The general objective of the study is to analyze the socio environmental practices of the settled families as a collaborative device in the building of an ecorelational consciousness; ancestor environmental practices, which are still performed by the group of settled families relating to the soil, land, water, agriculture, livestock, garbage, pesticides. Socio environmental practices were found in the daily of Angico settled families relating to the feeds treatment, to the daily water care to avoid water wastage, as well as to the soil, fauna and flora resources relationship, highlighting, mainly, the harmonious coexistence.

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16

Zerbib, Olivier David. "Asset pricing and impact investing with pro-environmental preferences". Electronic Thesis or Diss., Lyon, 2020. http://www.theses.fr/2020LYSE1207.

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Cette thèse étudie les effets des préférences pro-environnementales des investisseurs sur la valorisation des actifs et l’investissement d’impact. Le premier chapitre montre comment l’investissement durable, à travers la pratique conjointe de l’intégration de critères environnementaux, sociaux et de gouvernance (ESG) et du filtre d’exclusion, affecte le rendement des actifs. L’effet de ces deux pratiques se traduit par l’émergence de deux « primes de goût » et deux « primes d’exclusion » qui induisent des effets croisés entre les actifs exclus et non exclus. En utilisant les détentions de 453 fonds verts investissant dans les actions américaines entre 2007 et 2019 pour approximer les goûts des investisseurs durables, j’estime le modèle appliqué à l’investissement vert et à l’exclusion des « actions du péché » (« sin stocks »). L’effet de goût annuel varie entre -1,12% et +0,14% pour les différents secteurs considérés et l’effet moyen d’exclusion est de 1,43%. Au second chapitre, j’utilise les obligations vertes comme un instrument pour identifier l’effet des motivations non-pécuniaires, notamment des préférences pro-environnementales, sur les prix des obligations. Je mets en œuvre une méthode d’appariement, suivie d’une procédure de régression en deux étapes, pour estimer le différentiel de rendement entre une obligation verte et une obligation conventionnelle contrefactuelle entre juillet 2013 et décembre 2017. Les résultats font apparaître une faible prime négative : le rendement d’une obligation verte est plus faible que celui d’une obligation conventionnelle. En moyenne, la prime est de -2 points de base pour l’échantillon total ainsi que pour les obligations en dollar et en euro considérées séparément. Je montre que cette prime négative est plus prononcée pour les obligations financières et celles ayant une faible notation. Les résultats soulignent le faible impact des préférences pro-environnementales des investisseurs sur le prix des obligations, ce qui ne représente pas, à ce stade, une désincitation pour les investisseurs à soutenir l’expansion du marché des obligations vertes. Enfin, le troisième chapitre montre comment l’investissement vert pousse les entreprises à réduire leurs émissions de gaz à effets de serre en faisant augmenter leur coût du capital. Les émissions des entreprises se réduisent lorsque la proportion d’investisseurs verts et leurs exigences environnementales croissent. Cependant, une hausse de l’incertitude concernant les impacts environnementaux futurs atténue la pression sur le coût du capital des entreprises les plus carbo-intensives, ce qui les pousse à accroître leurs émissions. Je développe une analyse empirique qui corrobore les résultats théoriques en analysant les actions américaines et en utilisant les détentions des fonds verts pour approximer les croyances des investisseurs verts. Lorsque la proportion d’actifs gérés par des investisseurs verts double, l’intensité carbone des entreprises baisse en moyenne de 5% par an
This thesis addresses the effects of investors’ pro-environmental preferences on asset pricing and impact investing. The first chapter shows how sustainable investing, through the joint practice of Environmental, Social and Governance (ESG) integration and exclusionary screening, affects asset returns. The effect of these two practices translates into two taste premia and two exclusion premia that induce cross-effects between excluded and non-excluded assets. By using the holdings of 453 green funds investing in U.S. stocks between 2007 and 2019 to proxy for sustainable investors' tastes, I estimate the model applied to green investing and sin stock exclusion. The annual taste effect ranges from -1.12% to +0.14% for the different industries and the average exclusion effect is 1.43%. In the second chapter, I use green bonds as an instrument to identify the effect of non-pecuniary motives, specifically pro-environmental preferences, on bond market prices. I perform a matching method, followed by a two-step regression procedure, to estimate the yield differential between a green bond and a counterfactual conventional bond from July 2013 to December 2017. The results suggest a small negative premium: the yield of a green bond is lower than that of a conventional bond. On average, the premium is -2 basis points for the entire sample and for euro and USD bonds separately. I show that this negative premium is more pronounced for financial and low-rated bonds. The results emphasize the low impact of investors' pro-environmental preferences on bond prices, which does not represent, at this stage, a disincentive for investors to support the expansion of the green bond market. Finally, the third chapter shows how green investing spurs companies to reduce their greenhouse gas emissions by raising their cost of capital. Companies' emissions decrease when the proportion of green investors and their environmental stringency increase. However, heightened uncertainty regarding future environmental impacts alleviates the pressure on the cost of capital for the most carbon-intensive companies and pushes them to increase their emissions. I provide empirical evidence supporting the theoretical results by focusing on U.S. stocks and using green fund holdings to proxy for green investors' beliefs. When the fraction of assets managed by green investors doubles, companies’ carbon intensity drops by 5% per year

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17

Ali, Basah Mohamad. "Corporate social responsibility and natural environmental risk management in the context of the banking sector of Malaysia". Thesis, Cardiff University, 2012. http://orca.cf.ac.uk/25064/.

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The concept of corporate social responsibility (CSR) has had a long and varied history since its beginnings in the 1930s with the seminal work of Berle and Means. Many occidental studies regarding CSR have concentrated on natural environmental management and the influence of social and culture differences on such management. However, such research has not as yet been undertaken to any significant extent in the Malaysian context. To fill this gap, the present study therefore investigated environmental management in Malaysia’s banking sector, and the methods deployed by bank managers in evaluating and accommodating environmental risk in the credit assessment process. Malaysia was chosen as the study location because it is a multi racial country and has a dual banking system (conventional and Islamic banking). These characteristics enabled the study to investigate the influence of cultural and institutional differences on credit evaluation orientations, stakeholders’ group activism and perceptions, and general CSR orientations. To achieve the study aims, a questionnaire survey was designed to collect data from managers and executives in corporate banking departments whose main task is to evaluate loan applications, especially in project financing. The findings obtained from analyses of the data collected suggested that Malaysia’s banking sector has, in general, good environmental management practice. However, local banks’ environmental management practice falls short of that of international banks. It was also found that Islamic banks have better environmental management practice than conventional banks. As regards the credit evaluation process, the study findings suggested that environmental criteria are of secondary importance compared to financial and economic criteria. The study also found that cultural and institutional differences influenced the attitude of bank managers towards environmental management practice. Thus, to improve such practice in the future, these factors should be taken account of in the environmental policy development process if future rules and regulations, including environmental laws, are to gain widespread acceptance across racial and religious boundaries.

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18

Allet, Marion. "Microfinance and the environmental bottom line". Doctoral thesis, Universite Libre de Bruxelles, 2013. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/209516.

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Microfinance has strongly developed over the past decades on the promise of reaching a double bottom line of financial viability and social impact. Recently, some actors have started to advocate that microfinance, to be truly responsible, should include a third environmental objective as well. However, little scientific knowledge exists today on environmental management within microfinance institutions (MFIs). The objective of this PhD thesis is to shed light on how MFIs manage their environmental bottom line. More specifically, we identify the strategies adopted by MFIs to improve their environmental bottom line, we propose a new framework to assess the environmental performance of MFIs, and we analyze their motives for going green, the characteristics of MFIs involved in environmental management, and the challenges that they face when implementing environmental programs./La microfinance s’est fortement développée ces dernières années sur la base d’une double promesse :celle d’atteindre une viabilité financière tout en ayant un impact social. Récemment, certains acteurs ont commencé à déclarer que la microfinance, afin d’être véritablement responsable, devrait inclure un troisième objectif, environnemental. Aujourd’hui, les connaissances scientifiques liées à la gestion environnementale au sein des institutions de microfinance (IMF) sont toutefois limitées. Cette thèse s’intéresse donc à la manière dont les IMF gèrent leur impact environnemental. Plus particulièrement, elle identifie les stratégies adoptées par les IMF pour améliorer leur performance environnementale, propose un outil de mesure de la performance environnementale des IMF, et analyse leurs motivations pour devenir vertes, les caractéristiques des IMF engagées dans la gestion environnementale, et les défis auxquels elles sont confrontées lors de la mise en œuvre de programmes environnementaux.
Doctorat en Sciences économiques et de gestion
info:eu-repo/semantics/nonPublished

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19

Imamura, Takashi 1972. "Private sector's roles in application of private finance initiative to highway development in Japan". Thesis, Massachusetts Institute of Technology, 2002. http://hdl.handle.net/1721.1/34348.

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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2002.
Includes bibliographical references (p. 245-247).
The highway development program in Japan is currently at an important transition point. Necessary policy reforms, triggered by the public's increasing and intensifying criticisms, are under discussion. These criticisms are generally concerned with the financial difficulties in the program. Along with these policy reforms, the government should also consider applying Japanese Private Finance Initiative (or PFI) to highway infrastructure. Since its enactment in 1999, the governments have applied Japanese PFI in increasing number of occasions. However, primarily because of the difficulties for applying PFI to a large-scale infrastructure, they have not applied PFI in highways; PFI highway projects have not yet been realized in Japan, despite their potential advantages. The analysis begins by reviewing how public-private partnerships (or PPP) work in highway projects, based on the worldwide observations and the specific experiences in the United States and the United Kingdom. The governments' original intent in organizing PPP in their highway development, and the effectiveness and difficulty of PPP implementation are examined. Also, the thesis discusses how PPP changes the work that private companies do on highway infrastructure projects. Next, the thesis examines how the private companies must work with the government in PFI highway projects in Japan. What is the most important contribution? What is the most desirable working environment? The analyses of Japan's highway development program reveal that private companies must innovate their technology and manage risks efficiently to reduce the public expenditure. On the other hand, they need the government support in preliminary project planning and financial contributions. Finally, the thesis introduces a new project planning method that construction companies can use to more effectively bid in PFI highway projects and thus increase their chances for selection. The study considers that the method should maximize Value for Money (or VFM) in PFI highway projects for the government, while maintaining debt repayment capacity of the project and reasonable profits for the operator companies. The method presents an improved approach to consider interrelationships among major cost items and project scheduling, and configure them to make the most of the companies' efforts in achieving the highest possible VFM in PFI highways.
by Takashi Imamura.
S.M.

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20

Dieterich, Matthew C. (Matthew Clayton) 1968. "Emerging options in project delivery and finance : Tren Urbano and Massport's intermodal transit connector". Thesis, Massachusetts Institute of Technology, 1998. http://hdl.handle.net/1721.1/10030.

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21

Elsakit, Omer M. "The Disclosure and Use of Social and Environmental Information by Libyan Banks". Thesis, Griffith University, 2015. http://hdl.handle.net/10072/366430.

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There is increasing interest in social and environmental issues throughout the world, especially in developed countries, where governments, organizations, and society well recognise the impact of business activities on the environment and society. Consequently, companies have potentially no alternative but to behave in a responsible manner, socially and environmentally, and to prove this by disclosing information about their related conduct. In this regard, banks play two important roles: first, as providers of social and environmental information in much the same manner as nonfinancial companies; and second, as providers of finance, by encouraging—if not obliging—bank customers to consider society and the environment in their bank-financed projects. Banks fulfil the latter role by requiring social and environmental information from companies when making lending decisions. Only a few Libyan studies have examined social and environmental issues in relation to economic activity, and these have generally revealed low levels of disclosure practice by organisations, including banks, in these areas. In addition, many changes have taken place in the Libyan economy and banking sector in recent years, including the establishment of a market exchange; decreased government participation in economic activities; and increased growth of the private sector that results, especially in the banking sector, with the entrance of foreign investors. These changes have placed a new emphasis on bank operations and the participation of banks in the Libyan economy. Thus, studying Libyan banks, in terms of their role in the environment and society, has attracted growing interest. As such, the core objective of this thesis has been to investigate the position of Libyan banks in relation to social and environmental issues and disclosure by considering their dual role as both providers and users of such information.
Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Griffith Business School
Griffith Business School
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22

Choo, Imho 1968. "Japanese version of private finance initiative and future prospects of the market in the conduction industry". Thesis, Massachusetts Institute of Technology, 2003. http://hdl.handle.net/1721.1/29338.

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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2003.
Includes bibliographical references (p. 128-129).
During the past decade in Japan, the sluggish economy has increased pressure on the nation's finance and had a negative impact on the public investment decision of the government. This has led to a reduced construction budget responding to the continuing slump with an expansion in public works investment. Since the end of World War II, the Japanese government has issued a huge amount of debt to finance public works. As a result, the total debt (the government bonds, loans payable, and government short term securities, or financing bills) added up to over 140% of GDP in 2002. To overcome the economic crisis, since June 2001, the Koizumi Cabinet has advanced wide-ranging structural reforms. Those include economic revitalization strategies, tax reform and reforms in major government expenditures expressed as a commitment to small government. As a part of these reform policies, the government has focused on the Private Finance Initiative (PFI) in order to rebuild national and local government economy with the purpose of achieving better partnerships between public and private sectors. Since the PFI Law went into effect in September 1999 there were 98 PFI deals, including 9 services started, 21 contracts completed and 68 guidelines announced for projects in Japan by March 2002. The increased level of activity is expected to continue and the relationship between public and private sector must change to meet the complex and challenging market needs as the market grows in the future. This thesis analyzes the current environment surrounding the Japanese PFI market and the current issues concerning basic components of the PFI such as "Value For Money" or risk transfer. This thesis also examines future possibilities for expanding the Japanese Version of PFI in the construction market and proposes possible areas for private financing including renewal works for aged infrastructure in the Japanese and overseas construction market.
by Imho Choo.
S.M.

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23

Boccia, Alfred M. "An empirical analysis of environmental uncertainty, real options decision patterns and firm performance". Amherst, Mass. : University of Massachusetts Amherst, 2009. http://scholarworks.umass.edu/open_access_dissertations/93/.

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Yuliyanti, Diana 1977. "Project finance for independent power producers in developing countries : the Paiton I project generation project in Indonesia". Thesis, Massachusetts Institute of Technology, 2001. http://hdl.handle.net/1721.1/8989.

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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2001.
Includes bibliographical references (p. 227-232).
Private investments for independent power producers (IPPs) in developing countries have grown substantially since 1990s as public utilities were unable to keep pace with the countries' electricity demand. The private investors' experiences, however, have not been as smooth as expected with the possibility of deterioration of relationship between the investors and the host governments. The investors' tendency to get high returns to compensate for the risks they perceive as high when investing in developing world sometimes supersedes the main concern of the host government, which is to satisfy the public demands with as low a cost as possible. Some agreements between the investors and the public entity that are crafted to stabilize returns to investors regardless the economic conditions of the host country have been ineffective when the initially anticipated conditions change sharply. The thesis develops a risk-sharing framework between private investors and host governments or public entities to provide mechanisms when the initially anticipated economic condition turns adverse. The framework is developed as a modification of the current model of agreements, with a particular focus being on power purchase agreements (PPAs). The Paiton I project, a coal-fired power generation project in Indonesia, serves as a case study. The Paiton I model PPA have been ineffective in dealing with the inability of the Indonesian public utility to honor the contract when the mid-1997 Asian crisis occurred. Several key lessons arise from the case analyses. The take-or-pay level in the tariff structure is high while the demand projection is over optimistic; the risk arrangement is imbalanced, with the public utility assuming the majority of market risks, currency risks, and force majeure risks; the politically well-connected local participant turned out to be liabilities when government changes; efforts to pursue settlement in the international arbitration resulting in decisions favorable to investors have been difficult to implement in times of crisis. Certain analyses and recommendations covering lessons for better arrangements are outlined. Competition, transparency, and appropriate risks mitigation efforts are the key factors. The thesis closes with a tariff benchmarking analysis to aid the contracted parties in the tariff renegotiation process.
by Diana Yuliyanti.
S.M.

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25

van, Rensburg Luke Christopher. "The financial impact of environmental management on operations in selected hotels in Cape Town South Africa". Thesis, Cape Peninsula University of Technology, 2015. http://hdl.handle.net/20.500.11838/1615.

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Thesis submitted in fulfillment of the requirements for the degree Master of Technology: Tourism and Hospitality Management Faculty of Business Cape Peninsula University of Technology
Environmental management is a new phenomenon, one which affects not only the way that individuals live their lives today but also how businesses operate. Environmental policies cannot simply be introduced, especially in the hospitality industry. Although the industry thrives off customer satisfaction, like any other business it relies on making a profit each financial year for it to stay operational. This research was undertaken to determine if implementing an environmental policy has any effect on the financial statements of a select group of hotels within the Cape Metropole. In answering this question, the researcher was able to establish what the relationship between implementing environmental management policies was and the effect it has on the financial side of a specific group of hotels. “Hotels are also being pressured to move towards triple bottom line reporting (3bl), involving the relationship between profit, people, and planet” (Kleindorfer, Singhal & Van Wassenhove, 2005:482). “To encourage an environmentally more responsible behavior in the hotel sector, it was necessary to demonstrate the cost savings of these practices” (Bohdanowicz, 2005:188-205). The research methodology consisted of both quantitative and qualitative approaches. Interviews were conducted with participants from key organizations, and with people who were linked to the hotel industry and environmental management. These included government organizations, SARS, which deals with all tax-related laws in South Africa, Eskom, the country’s energy providing company, as well as with a travel agency which deals with hotel bookings on both a local and international level. A focus group was also undertaken to ensure that the problems being researched were discussed fully by likeminded people, and by those who were directly involved with carrying out these policies in hotels. Questionnaires were sent to all the four- and five-star hotels within the Cape Metropole to assess the current situation relating to environmental management and their financial profit or loss. The research determined that implementing environmental policies has both a positive and negative effect on financial statements, thus proving that there is a direct link between the two. The findings clearly showed that environmental policies, whilst good for the surroundings and the environment, can be financially draining for a business if not properly planned prior to implementation. With correct research, however, this can be done in the correct manner, with results that are positive for both the environment and for the company’s financial statements.

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26

Anyiwe, Timothy Osita. "Aligning Financial Strategy with Customer Categorization based on Environmental Scanning". ScholarWorks, 2011. https://scholarworks.waldenu.edu/dissertations/1016.

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Inadequate environmental scanning, poor financial strategy, and misaligned customer focus are responsible for 79% of retail profitability losses. The purpose of the qualitative study using a multiple-case study design was to explore the strategies needed to align financial strategy with customer-oriented processes in the retail industry. The research question involved understanding trends and operational risks influencing the establishment of financial alignment strategies. Porter's five forces model of customer influence, Pearce's environmental and economic factors affecting society values, and Albright's strategic planning of environmental influence served as the theoretical foundations for the study. 30 executives, managers, and team leaders in 2 Midwest U.S. organizations completed interviews. Interview data were coded for emergent themes. Themes included advanced strategic planning, improved customer-buying power, enhanced business viability, and reduced business uncertainties as components of a guiding strategy needed to align financial strategy with customer-oriented processes. Implications for positive social change include increased profitability that can result in improved employment opportunities.

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27

Wang, Wen-Kai. "Application of stochastic differential games and real option theory in environmental economics /". St Andrews, 2010. http://hdl.handle.net/10023/893.

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28

Bayoumi, Moustafa. "Evaluating the inclusion of sanitation and wastewater in climate policy and finance". Thesis, Uppsala universitet, Institutionen för geovetenskaper, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-386061.

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Sanitation is critical for sustainable development. However, the current systems in place are vulnerable to future risks. One of the main risks expected to have severe effects on the earth systems and our societies is climate change. If not dealt with, it threats to hinder or even reverse the progress done in sanitation access so far. On the other hand, countries are lacking the financial capabilities to achieve the sustainable development goals related to sanitation, not to mention the additional costs needed to increase its resilience towards climate variability and extreme weather conditions. Nevertheless, sanitation is not only vulnerable to climate change, it is also a significant contributor to greenhouse gas emissions which drive climate change. It is therefore important to better understand the linkages between sanitation and climate change. The aim of this study is to evaluate the inclusion of sanitation in climate policy and finance. A secondary content analysis is used to identify interest in sanitation in countries’ Nationally Determined Contributions to the Paris agreement. Climate-related official development assistance flows and financial elements of approved project proposals by the Green Climate Fund board are analyzed to quantify climate finance flows supporting sanitation projects. The results indicate that sanitation is largely ignored in countries’ climate agendas constituting only 1% of all countries’ activities with very scarce mitigation activities for the sector. Furthermore, sanitation is marginalized in the international climate finance landscape. Very limited climate-related finance from official development assistance was found allocated to projects with the main focus on sanitation. As for the GCF approved project proposals, only 7 projects out of 99 had sanitation or wastewater-related components and only one project of the 7 received GCF funding. These results indicate a knowledge gap of sanitation’s potential contribution to emissions reduction and the risks from climate change towards sanitation systems. Furthermore, it points out the need for better coordination between development and climate finance in order to reduce the finance gap and help achieve the sustainable development goals and the Paris agreement simultaneously.

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Chalela, Luciana Ribeiro. "Firms reaction to environmental regulation". reponame:Repositório Institucional do FGV, 2013. http://hdl.handle.net/10438/11082.

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International agreements arising from the need to deal with the global warming promoted by countries decided to embrace a climate change policy bring on the debate of the impacts on firms in a global competitive market. Facing, therefore, different environmental standards accordingly to firm’s physical location. Once European Union is taking the lead in adopting stringent environmental regulation, this study aims to assess the impact of environmental regulations on firms in Europe. A novel database was constructed providing firm-level air pollution emission information in the European Union. Using difference-in-difference model, the effect of the intervention of EU environmental policy change suggests a negative response in fixed assets among EU firms due to the 2006 EU policy. The evidence to the hypothesis that firms in European Union have been decreasing its firms fixed assets, as a proxy of production capacity, with the change in environmental regulation, provides general support for the PHH, however, it doesn’t remain in robustness checks. The contribution of this work is bringing a revisited view of the actual effect of environmental regulation based on Kyoto Protocol directives on European firms.

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30

Mcleod, Michelle. "Does environmental performance predict financial performance? A South African perspective". Thesis, Stellenbosch : Stellenbosch University, 2011. http://hdl.handle.net/10019.1/80774.

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Thesis (MBA)--Stellenbosch University, 2011.
Corporate environmental responsibility has engaged the attention of academics, practitioners and environmentalists for some time, creating pressure for companies to conduct business in an environmentally greener manner. To find economic support for such conduct by South African companies, this study aims to investigate whether superior environmental performance by South African listed companies leads to superior financial performance. A review of related literature identified significant diversity in research approach and methodology as well as environmental and financial performance measures employed and therefore also in the results obtained. Given the continuing emergence of climate change as a material issue for business, this study utilised South African Carbon Disclosure Leadership Index (CDLI SA) ratings as proxy for South African companies’ environmental performance. The infancy of the Carbon Disclosure Project in South Africa does result in some data limitations which necessitated a portfolio approach to address the research question. This approach, however, prevented explicit consideration or judgement on the direction of causality between environmental and financial variables. The environmental performance data limitations and the resulting need for some assumptions resulted in this study being explorative in nature. Using CDLI SA ratings as distinguishing environmental performance characteristic, industrymatching, mutually-exclusive stock portfolios were constructed. Relative portfolio performance was measured with reference to the Sharpe and Treynor ratios and a simple statistical test. Considering the three years 2008 to 2010, the Sharpe and Treynor ratios for Environmental Leaders and Laggards portfolios did not clearly identify either Environmental Leaders or Environmental Laggards as superior financial performers and results also varied across industries. There appears to be some trend emerging which sees Environmental Leaders outperforming Environmental Laggards in more recent years for some industries, however, the short time frame under consideration provided insufficient support for such conclusion. Statistical means testing concluded that the mean returns of Environmental Leaders and Environmental Laggards are similar. Sensitivity analysis performed on the Financials sector indicated that the Sharpe and Treynor ratios are sensitive to portfolio construction. Despite this sensitivity, statistical means testing consistently found little evidence to infer that the mean returns of Environmental Leaders portfolios are either higher or lower than that of Environmental Laggards portfolios. It is suggested that the similar performance of the Environmental Leaders and Environmental Laggards portfolios may be attributed to the use of an environmental performance measure unable to sufficiently distinguish between environmental leaders and environmental laggards. Another interpretation of the results could be that investors consider disclosure-based environmental performance measures as unreliable, or less reliable as compared with outcome-based or combined measures. Finally, it may be that investors’ expectations have not yet been adjusted to reflect the fact that climate change constitutes a materiality issue for business in the long run, which will require companies to actively manage carbon risks. Although there exists voluminous international research on the topic of this study, South African research in this regard is restricted. This study adds to the existing body of South African specific research, but is only explorative in nature; therefore areas for future research have been recommended.

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31

Caldecott, Benjamin. "Stranded assets and environment-related risk". Thesis, University of Oxford, 2016. https://ora.ox.ac.uk/objects/uuid:36137d36-8392-4ce9-8a51-709bc6495a17.

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This thesis represents the first comprehensive attempt at providing conceptual and scholarly coherence to the topic of stranded assets and the environment. Over the last five years the topic has risen up the agenda and has become of significant interest to scholars and practitioners alike, as it has influenced a number of pressing issues facing investors, companies, policymakers, regulators, and civil society in relation to global environmental change. The thesis reveals how the topic developed and emerged, notably through a unique first-person account based on autoethnography and close dialogue. Four self- contained papers demonstrate the wide applicability of stranded assets, and further existing, relatively well-developed literatures (namely carbon budgets and stranded costs) and also two much less developed literatures (namely the calibration of climate policy to minimise stranded assets and policy mechanisms to quickly and efficiently strand assets). Though a significant amount has been written on stranded assets over a short period, there remain significant gaps in the literature. The thesis identifies substantial research opportunities, particularly to better connect our understanding of physical and societal environment-related risks; to improve our knowledge of perception and behaviour in relation to the creation and management of stranded assets; to expand the scope of work into new sectors and geographies; and to place stranded assets in an appropriate historical perspective. Stranded assets is, if anything, a geographical concept. The thesis makes the case for economic geography as the disciplinary home for stranded assets. The sub-discipline can both contribute to the development of stranded assets as a scholarly endeavour and itself benefit from interacting with a topic that intersects with some of the most pressing contemporary issues related to environmental sustainability.

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32

Nelson, Joshua S. "Stuck with the bill, but why? : an analysis of the Portuguese public finance system with respect to surface transportation policy and investments". Thesis, Massachusetts Institute of Technology, 2008. http://hdl.handle.net/1721.1/44371.

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Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning; and, (S.M. in Transportation)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2008.
Includes bibliographical references (p. 129-140).
Despite decentralization progress in other sectors, the Portuguese central government maintains significant administrative and fiscal power over national and sub-national surface transportation operations and infrastructure. This thesis provides a global view of the state of surface transportation in Portugal through an analysis of both the nation's public finance and transportation finance systems as well as a discussion of specific surface transportation systems. It reveals that national and sub-national governments in Portugal are collectively pursuing an unsustainable transportation finance policy that places a significant burden on the public finance system, unfairly privileges the nation's metropolitan areas, and enables a costly and highly politicized tug-of-war between central government and sub-national governments with respect to public transportation investments.
by Joshua S. Nelson.
S.M.in Transportation
M.C.P.

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33

Cox, Marcus Z. "When and Where Does It Pay to Be Green: Intra- and Inter-organizational Factors Influencing the Environmental/Financial Performance Link". Thesis, University of North Texas, 2014. https://digital.library.unt.edu/ark:/67531/metadc500091/.

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Managers are coming under increasing pressure from a wide array of stakeholders to improve the environmental performance of their firms while still achieving financial performance objectives. One of the most researched questions in the business and the natural environment (B&NE) literature is whether it pays to be green. Despite more than three decades of research, scholars have been unable to clearly answer this question. The purpose of this dissertation was to attempt to identify the antecedents that lead to increased, firm-level environmental performance and the conditions in which firms are then able to profit from enhanced environmental performance. First, I assessed three intra-organizational factors of top management teams (i.e. female representation, concern for non-financial stakeholders, and risk-seeking propensity) that theory indicated are associated with increased corporate environmental performance (CEP). Theory also leads us to believe that top management teams with these attributes should perform better in dynamic settings, so I tested to see if industry dynamism moderates these relationships. Second, I then examined industry-level forces that theory indicates would moderate the relationship between CEP and corporate financial performance (CFP). These moderating forces include industry profitability, industry dynamism, and the degree of industry environmental regulation. Hypotheses were tested using panel data obtained from the KLD, Compustat, and Environmental Protection Agency databases for the years 2000 to 2011. The sample consists of firms comprising the Standard and Poor’s 500 and was analyzed using fixed-effect regression and moderating variables were analyzed using the Johnson-Neyman technique.

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34

Mollatt, David G. R. "Examining the feasibility of introducing environmental surcharges to finance local coastal management initiatives in South Africa : a case study in Plettenberg Bay". Thesis, Rhodes University, 2004. http://hdl.handle.net/10962/d1002734.

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The management of coastal resources in South Africa has come under review as a result of the degradation of environmental resources along the coast. The challenge being faced by resource managers is to achieve economic growth while sustaining South Africa’s coastal resource base (Nobel, 2000). The South African government (RSA, 2000) has developed a coastal management strategy to meet this challenge: The strategy involves the inclusion of all stakeholders in the formation of policy regarding the management of coastal resources, in a more integrated approach to coastal management. To effectively achieve this stakeholder inclusion, it has become necessary to decentralize the political, administrative and fiscal authority to conduct coastal management functions. With regard to the need for fiscal decentralisation this thesis considers the possibility of implementing localised environmental surcharges to finance coastal management initiatives. The ability of the White Paper for Sustainable Coastal Development (RSA, 2000) to provide theformal institutional structure necessary for the introduction of environmental surcharges is firstconsidered. It is shown that the decentralised management strategy has the potential to create a management style that is transparent and accountability orientated. In addition to this the style is capable of adapting to dynamic local coastal conditions and is therefore an appropriate direction in which to steer coastal management in South Africa. The effectiveness of coastal co-management as an informal institutional arrangement is then examined. Provided that local Coastal Management Fora are created to include all relevant stakeholders and that a source of long term financing is secured co-management has the potential to create the conditions necessary for effective coastal management. With regard to a source of long term financing, local environmental surcharges to finance coastal management initiatives are considered. The public’s willingness to contribute to such a surcharge is analysed in the context of Plettenberg Bay by probing their willingness to pay (WTP) for a Bay Management Plan. A survey instrument is developed to measure the public’s WTP. The design of the instrument is based on the Contingent Valuation (CV) method that is used to analyse the nonmarket benefits that environmental resources (such as Plettenberg Bay) provide the public. It is found that the resident population is willing to pay R15 per month toward a Bay Management Plan whilst domestic and foreign tourists respectively are willing to pay R6 and R22 daily. The aggregation of these WTP estimates yields a total passive use value of between R15 397 900 – R20330 500 annually. This nuclear value of the Bay should be included in the formation of local coastal management policy and provides guidance for the introduction of a local environmental surcharge. A budget for a Bay Management Plan is proposed and a progressive surcharge based on municipal property value is set. To finance the local residents’ share of the budget, a monthly surcharge of R1 would be required of the average valued property. To calculate the domestic and foreign tourist contribution to the budget a schedule of accommodation offering property will be required. However, to finance the entire budget a residential surcharge of approximately R10 would be required of the average valued property. This figure is well below the average resident population WTP of R15, highlighting the fact that an environmental surcharge in Plettenberg Bay is indeed feasible. The difference in reported WTP and the contribution required to finance the Bay Management Plan also highlights that there is scope for experimentation in the introduction of such a surcharge.

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35

Gurr, Anna. "The Effects of Positive and Negative Environmental Responsibility on Financial Performance". Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/cmc_theses/1800.

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As environmental responsibility (ER) gains momentum in the corporate and stakeholder world, it is imperative to understand the relationship between ER and financial performance. While there is prior research looking at this relationship, this study provides further insight into the specific effects of negative and positive ER. In addition, it looks over the years 2008-2011 having implications for companies about the effects of their ER even through financial hardships. This study uses a widely respected corporate social responsibility database, in which ER scores were separated from. In this study, 287 firms in the S&P 500 are examined through times-series regression analyses. The results reveal that positive ER had a negative relationship with financial performance indicators Tobin’s q and ROA. However, negative ER had such strong positive relationship with financial performance in both measures, that when looking at the effect of net ER, the relationship was tipped back to positive. This indicates that negative ER worsens a company’s financial position more than spending on positive ER initiatives.

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36

Dube, Thabiso B. "An analysis of alternative funding strategies for protected area management : a case study of Ezemvelo KZN Wildlife". Thesis, Stellenbosch : Stellenbosch University, 2011. http://hdl.handle.net/10019.1/18194.

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Thesis (MDF)--Stellenbosch University, 2011.
The proper management of protected areas is important for biodiversity conservation and continued flow of ecosystem services such as the building up of soil resources and the provision of clean water. Protected areas provide a means of livelihood for communities on the peripheries of these protected areas through conservation based development projects and create an opportunity for people to learn about the environment and wildlife. Protected areas are areas of land and/or sea especially dedicated to the protection and maintenance of biological diversity, and natural and associated cultural resources, and management through legal or other means (International Union for the Conservation of Nature (IUCN), 1994). These are special places around the world that are managed for conservation purposes. Darey, (1998), recommends that protected areas should be planned and managed as a system, a shift from the previous mindset in which they were considered as separate entities. The role played by protected areas is vital and is recognized in most countries including 177 countries who are signatories to the Convention of Biological Diversity (CBD). The CBD caters for cooperation amongst its members by providing support for the financing of protected area systems. There exists, therefore a global mandate for and a specific responsibility to ensure that protected areas are adequately financed. Ezemvelo KZN Wildlife is a statutory nature conservation body mandated with the protection of natural resources and management of biodiversity in the province of KwaZulu-Natal (KZN). Biodiversity conservation needs to happen both inside and outside of state-controlled protected areas to create conservation corridors and buffer zones and also to prevent the environmental degradation taking place as a result of human population growth, habitat destruction, and unsustainable development. (Department of Environmental Affairs and Tourism, 2005). The challenge facing Ezemvelo KZN Wildlife in carrying out this mandate is the lack of adequate financial resources. The subsidy received is not sufficient to cover all the conservation initiatives that the entity would like to undertake and so the exploration of alternative financing initiatives is required. The aim of this paper is to explore and discuss alternative funding strategies that can be used by Ezemvelo KZN Wildlife to supplement the subsidy received from government. These strategies will form a blueprint that protected area managers can use to source sustainable alternative funding that is reliable and environmentally friendly. This study was conducted at Ezemvelo KZN Wildlife’s head office, based at Queen Elizabeth Park in Pietermaritzburg. The research included input from the organization’s Hospitality Managers and Conservation Managers spread throughout the Province. A questionnaire was designed and circulated to draw responses from Executives and relevant Managers. Interviews to ascertain the organizations sources of funding and future sources were carried out. Ezemvelo KZN Wildlife official documents such as annual reports, strategic documents and project plans were reviewed and interpreted. The report showed that 90percent of the organizations funding comes from government or state affiliated organizations. These sources are neither sufficient nor reliable. Ezemvelo KZN Wildlife cannot plan adequately before establishing the annual subsidy it will receive from government – its primary funder (Ezemvelo KZN Wildlife, 2008). The research also showed that there are numerous strategies that the organization can implement to supplement its subsidy. These include the widespread implementation of Payment for Ecosystem Services (PES) strategies and revenue maximization through improved customer service. Ezemvelo KZN Wildlife has a great potential to generate sufficient funds through its commercial services such as camping, accommodation, gates and boating services to name but a few. The challenge however is to develop an operational strategy that will be devoid of bureaucracy and promote business best practices and the formation of partnerships with the private sector and the communities in the form of Public Private Partnerships (PPP’s) and co-management agreements respectively.

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37

Lindell, Hannah y Emelie Palesjö. "Miljövänliga fonder och investeringsbeslut". Thesis, Södertörns högskola, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-38353.

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Intresset för hållbara fonder har ökat kraftigt de senaste åren och idag investerar var fjärde person i denna typ av fond. Studiens syfte var att undersöka vilka psykologiska aspekter som påverkar vid investering i miljövänliga fonder, en underkategori till hållbara fonder. Detta har skett med stöd från ett flertal beslutsteorier samt teorier inom beteendefinansiering. Undersökningen har gjorts genom en kvantitativ metod med hjälp av enkäter, där en sambandsanalys gjordes genom korstabeller. Resultatet visade att altruism är en stark faktor till att människor väljer att investera miljövänligt. I övrigt har resultatet påvisat att motiven mellan investerare som sparar i miljövänliga fonder och investerare som sparar i konventionella fonder ur många aspekter är lika.
Sustainable mutual funds have increased with popularity during the past recent years. Presently, one in four people invests in this type of mutual funds. The aim with the following study was to examine which psychological factors have an impact on investment decisions in environmental funds. Specifically, looking into one of multiple subcategories of sustainable mutual funds. The study was made with support from several decision making theories and theories within behavioral finance. The study used surveying as a quantitative method with a context analysis by crosstabs. The results suggested that altruism is a strong factor towards one's choice to invest in environmental funds. The results also suggested that the motives between investors who invests in environmental funds and investors who choose to invest in traditional funds are similar in many aspects.

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38

Junior, Arlindo Philippi. "Controle de poluicao ambiental: implantacao de sistema de financiamento". Universidade de São Paulo, 1988. http://www.teses.usp.br/teses/disponiveis/6/6134/tde-26072016-145516/.

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O presente trabalho tem por objetivo apresentar uma proposta para a implantação de um sistema de financiamento para controle de poluição ambiental. Assim, o trabalho é composto de quatro partes básicas. A primeira compreende uma abordagem introdutória, na qual são apresentados os principios e conceitos relacionados à poluição ambiental. Na segunda parte é descrita a evolução do controle da poluição ambiental no Estado de sio Paulo, abrangendo períodos, legislação, atribuições e aspectos institucionais. O programa de financiamento para controle de poluição ambiental de origem industrial para o Estado de são Paulo, como exemplo, é detalhado na terceira parte do trabalho abordando suas características, a evolução do programa, as estruturas legal e administrativa utilizadas em seu desenvolvimento e diversos resultados obtidos em termos físico-ambientais e econômico-sociais, caracterizando a implantação e o desenvolvimento do programa considerado. A quarta parte apresenta então uma proposta para implantação de sistema de financiamento para controle de poluição ambiental, em condições de ser utilizado nos diversos níveis do Governo, particularmente a nivel de Estado. O trabalho realizado permite considerar a importância do sistema de financiamento do tipo descrito como instrumento de apoio às ações de controle de poluição, estimulador de estudos para determinação de custos de controle de poluição e, consequentemente, fator de indução para a formulação de política de controle de poluição ambiental clara e definida, adequada às situações locais e regionais, conduzindo à melhoria de suas condições ambientais e, em decorrência, da qualidade de vida.
The aim of this paper is to present a proposal to implement a financing system for environmental pollution control program. Thus, this paper is made up of four basic parts. The first one includes an introductory approach, in which principles and concepts related to environmental pollution are presented. In the second part, the evolution of industrial pollution control in the State of Sao Paulo involving periods of time, legislation, responsabilities and institutional aspects is described. For instance, the financing program for environmental pollution control in the State of Sao Paulo is detailed in the third part of the paper, approaching its characteristics, evolution of the program, legal and administrative structures used in its development and some results obtàined in environmental, social and economical terms and in the development of the program taken into account. The fourth part presents a proposal to implement a financing system to control environmental pollution, that can be used in the various levels of government, particularly in the State level. This paper makes it possible to consider the importance of the financing system, as described, as a supporting to the actions of pollution control, estimulator of studies to determine pollution control costs and, consequently, inducing factor to set up a clear and defined environmental pollution control policy suited to local and regional situations, leading to the improvement of the environmental conditions and, consequently, of life quality.

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39

Kivikoski, Lauri y Robert Sandberg. "Individual investors' preferences regarding green bonds : A survey of Swedish investors". Thesis, Umeå universitet, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-165057.

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Green bonds are a type of bonds that are designated for investment projects that have a positive effect on the environment. Such projects could be preventing climate change by reducing emissions of greenhouse gases, increasing energy-efficiency, or improving waste management. Green bonds have risen considerably in issued volume in recent years. Sweden has been one of the forerunners in this development and the interest towards these products seems to be high among individual Swedish investors. Initially, investors in green bonds have been mainly financial institutions, but there are an increasing number of mutual funds, which are aimed for retail banking customers as well. Previous research in socially responsible investing has not paid attention to green bonds from the perspective of the private, individual investor. This study is aimed to study potential individual green bond investors in Sweden. The purpose of this study was to answer the research question of who the typical Swedish green bond investors are, based on demographic characters. As research sub-questions, the thesis also answered questions regarding perceived risk and return on green bonds, and the effect of environmental attitude and behaviour on potential green bond investments. The study was carried out as an Internet survey by means of a questionnaire directed to Swedish investors. In total, 66 respondents answered the survey, which was analysed by bivariate and multivariate methods. Among the demographic factors, two were found statistically significant, age, and parenthood. In this sample younger investors (age less than 39), were found to prefer investing in green bonds, compared to older investors. Secondly, the fact of being a non-parent turned out to be a distinctive feature of current and potential investors in green bonds. The results regarding the first research sub-question, showed that the individual investors do not perceive green bonds to be more or less risky or give more or less return than comparable conventional bonds. The second research sub-question regarding environmental attitude and behaviour, showed a significant difference between those who showed a strong pro-environmental behaviour, as opposed to those who showed a weaker pro-environmental behaviour. The conclusion about the influence of environmental attitudes was that it did not have an effect on potential green bond investments.

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40

Queen, Irene T. "Green Bonds and Climate Change: State of the Art or Artful Dodge?" Miami University / OhioLINK, 2016. http://rave.ohiolink.edu/etdc/view?acc_num=miami1470352085.

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41

Cziesla, Chris. "Comparison of the Effectiveness and Efficiency of the Cap-and-Trade Policies in the United States". Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/cmc_theses/1802.

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I explore the effects of the implementation of the two U.S. cap-and-trade policies on carbon dioxide (CO2) emissions for the two regions in which the policies are active as well as the regions on their respective borders. The cap-and-trade policy is a market-based approach to reduce emissions by capping the total amount of emissions produced and allowing emission producing entities to trade emission allowances on an open market. The two active cap-and-trade policies in the United States are the Regional Greenhouse Gas Initiative (RGGI), located in the northeastern United States, and in California, which differ in design, scope, and duration. I use a difference in differences design to analyze the change in CO2 emissions in the states effected by the policies relative to the rest of the country. I find that the RGGI policy has not reduced CO2 emissions in comparison to the rest of the non-policy states but only the California emission trading system has yielded a statistically significant decline. The results also find that the there is no evidence to suggest different changes in CO2 emissions in the states bordering both regions in which the policies are in place.

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42

Johnzon, Josephine. "Sambandet mellan finansiell lönsamhet och koldioxidprestanda : En studie på svenska fastighetsverksamheter". Thesis, KTH, Fastigheter och byggande, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-297534.

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Bakgrund: Med anledning av den globala uppvärmningen behövs en omställning till en cirkulär ekonomi. Svenska fastigheter står för en stor del av samhällets energianvändning men har också genomgått en betydande energieffektivisering de senaste decennierna. Syfte: Studiens huvudsyfte var att svara på frågeställningen om det fanns ett samband mellan koldioxidprestanda och finansiell lönsamhet inom urvalsgruppen svenska fastighetsverksamheter mellan åren 2016 och 2020. Syftet var också att undersöka om koldioxidskatten hade ett samband med koldioxidprestanda. Metod: Data på koldioxidprestanda inhämtades manuellt från företagens hållbarhetsrapporter. Koldioxidprestanda uttrycktes som koldioxidintensitet. Finansiell lönsamhet uttrycktes genom fem olika nyckeltal: avkastning på eget kapital, avkastning på totalt kapital, EBITAD-marginal, rörelsemarginal och vinstmarginal. Sambanden analyserades med olika linjära regressionsmodeller för paneldata.Resultat: Resultaten visade på en signifikant negativ association mellan högre lönsamhet och lägre koldioxidintensitet. Resultaten var starkast för lönsamhetsmåtten avkastning på eget kapital, avkastning på totalt kapital, rörelsemarginal och vinstmarginal (p<0,05). Det fanns också ett signifikant samband mellan högre koldioxidskatt och lägre koldioxidintensitet. Slutsats: Det finns ett samband mellan högre lönsamhet och bättre koldioxidprestanda inom svenska fastighetsbranschen. Slutsatsen är också att lönsammare företag hade en lägre koldioxidintensitet. Slutligen så har en högre koldioxidskatt ett samband med bättre koldioxidprestanda.
Background: Due to global warming, a shift to a circular economy is needed. Swedish properties account for a large part of society's energy use, but have also undergone significant energy efficiency improvements in recent decades. Aim: The main purpose of this study was to investigate the relationship between carbon performance and financial profitability within the sample group Swedish real estate companies between the years 2016 and 2020. The purpose was also to investigate a possible relationship between carbon tax and carbon performance. Method: Data on carbon performance were obtained manually from companies' environmental disclosure. Carbon performance was expressed as carbon intensity. Financial profitability was expressed through five different key ratios: return on equity, return on assets, EBITAD margin, operating margin, and profit margin. The relationships were analyzed with different linear regression models for panel data.Results: The results showed a significant negative association between higher profitability and lower carbon intensity. The results were strongest for the profitability measures return on equity, return on assets, operating margin and profit margin (p<0.05). There was also a significant association between higher carbon taxes and lower carbon intensity. Conclusion: There is a relationship between higher profitability and better carbon performance in the Swedish real estate industry. Furthermore, companies with higher profitability have lower carbon intensity. Finally, a higher carbon tax is associated with better carbon performance.

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43

Klenert, David Christian [Verfasser], Ottmar [Akademischer Betreuer] Edenhofer, Georg [Gutachter] Meran, Matthias [Gutachter] Kalkuhl y Ottmar [Gutachter] Edenhofer. "Common goods & distribution : public finance and environmental policy in an unequal world / David Christian Klenert ; Gutachter: Georg Meran, Matthias Kalkuhl, Ottmar Edenhofer ; Betreuer: Ottmar Edenhofer". Berlin : Technische Universität Berlin, 2016. http://d-nb.info/1156272777/34.

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44

Klenert, David [Verfasser], Ottmar [Akademischer Betreuer] Edenhofer, Georg [Gutachter] Meran, Matthias [Gutachter] Kalkuhl y Ottmar [Gutachter] Edenhofer. "Common goods & distribution : public finance and environmental policy in an unequal world / David Christian Klenert ; Gutachter: Georg Meran, Matthias Kalkuhl, Ottmar Edenhofer ; Betreuer: Ottmar Edenhofer". Berlin : Technische Universität Berlin, 2016. http://nbn-resolving.de/urn:nbn:de:101:1-201804177874.

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45

Ekuful, Joyce. "An examination of the implementation of an ecological sanitation project as an instrument of the Environmental Sanitation Policy of Ghana: the case of Kumasi Metropolis". Thesis, University of the Western Cape, 2010. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_1091_1360850692.

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The generation of large volumes of solid and liquid wastes in urban and periurban areas of Ghana is a big problem for the people and government of Ghana. It contributes to the outbreak of many diseases in the country such as malaria, diarrhoea and typhoid fever. In managing the situation, a new concept called ecological sanitation (ecosan), which focuses on reuse of waste, has been introduced in the country. The objectives of the thesis were to criticise the environmental sanitation policy
by analysing its content in relation to policy implementation arrangements, to discuss programmes and projects identified under the policy, to critically examine the implementation of an ecosan project as a way of achieving the goal and objectives by outlining its implementation processes, prospects and challenges, and to make appropriate recommendations. The analysis and discussion of the thesis were based on both primary and secondary data. The primary data, on one hand, were collected on the prospects and challenges that exist in the implementation of ecosan projects from Kumasi metropolis. The secondary data, on the other hand, were from
books, journals and websites. From the research analysis, it emerged that the policy allows the implementation of many sanitation projects including ecosan. Secondly, stakeholders see ecosanto be a good approach to reduce waste generation in the country. However, the main challenges that exist in promoting the concept are inadequate financial support, unavailability of implementation guidelines and lack of knowledge about concept details. It is therefore argued that financial support, implementation guidelines and awareness-creation activities should be available in the implementation of ecosan in the metropolis. Government, private organisations, companies and individuals should each contribute their quota in the support and processes.

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46

Paty, Melanie C. "Promoting Bold Investment in Renewable Energy Research and Development". Scholarship @ Claremont, 2015. http://scholarship.claremont.edu/cmc_theses/1208.

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This thesis discusses the potential for private investment to fund ambitious renewable energy research and development to help mitigate climate change. I begin by discussing the threat of global warming and a brief history of renewable energy development in the United States. Next, I discuss existing avenues for private investment in renewable energy, potential methods of increasing corporate participation, and the belief that businesses must maximize only financial profits. Then I perform an in-depth case study of pension funds that have incorporated a social or environmental mission, existing environmentally focused mutual funds, and liquidated clean energy mutual funds. Finally, I compare the historical performance of the existing mutual funds to the liquidated to determine a profit threshold below which clean energy focused funds fail and discuss optimal investment strategies to foster bold renewable energy investment.

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47

Snyman, Annie. "Study of factors influencing fundraising success for non-profit environmental funds in South Africa : a case study of the World Wide Fund for Nature South Africa". Thesis, Stellenbosch : Stellenbosch University, 2014. http://hdl.handle.net/10019.1/97294.

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Thesis (MDF)--Stellenbosch University, 2014.
ENGLISH ABSTRACT: The planet is at risk, which could be to the peril of its people. The current consumption rate of natural resources surpasses capacity and new ways are required to address the ecosystems threats and biodiversity losses the planet faces. This research reviewed the various threats Earth faces and ways to finance corrective action to ensure it remains inhabitable. The research aimed to review factors influencing fundraising of non-profit Environmental Funds and chose as case study, the World Wide Fund for Nature South Africa, given its long history in supporting conservation in the country. The research used the Seven-S strategy model as analysis framework and assessed four of the seven categories namely strategy, structure, systems and staff using data in the public domain. The World Wide Fund for Nature South Africa was found to be financially healthy, liquid and stable. This in itself confirmed its fundraising success over many years and not only during the period of review. It had a diversified funding mix and its largest type of income was derived from subscriptions and donations, which was confirmed by the reliance ratio calculations. There was a clear organisational purpose and direction, yet no specific fundraising strategy was stated. Findings from the supporter retention analysis indicated a possible shift in focus to obtain a larger unrestricted income base and to align with supporters that stay with the cause over longer periods. Structural aspects showed that there was a substantial increase of organisational sub-units supporting new programmes between 2008 and 2013. Contributed income mirrored the changes up to 2012 after which a drop in income was observed. Trustee composition changes and income derived from subscription and donation changes trended in similar patterns. Systems incorporating governance practices, financial reporting and auditing were observed to be sound and in line with good governance practices including King King Code of Governance. The staff analysis showed an increase in overall staffing numbers and concomitant rise in contributed income up to 2012. The retention of key managerial staff was prevalent.

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48

Sabbi, Enrico y Triantafyllia Karampini. "Venture Capital & Green Ventures : Developing an Understanding of the Investment Decision". Thesis, Umeå universitet, Företagsekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-161360.

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There has been a continuous interest in academia with regard to the venture capital (VC) as themain flourishing aid to new business. Nowadays, academia and the public consider it ‘hot‘ to argue and invest in business that define their activities with sustainable goals, and callthemselves ‘green’, ‘clean’ or ‘eco’. Furthermore, circles of discussions about sustainability, triple bottom line, green, clean, eco, and other terms related with positive impact towards society environment alongside financial returns have created uncertainty with respect to what defines an entity as green and how this can be used as a competitive advantage in the attractiveness of the business in the very first steps of its existence. However, green startups are considered a strong tool for the emergence of the environmentally friendly solutions needed in order to avoid dangerous and irreversible climate change. Furthermore, venture capitalists (VCs) are a key provider of financial capital for emerging firms. Therefore, given the complex nature of the VC investment decision, it is paramount to understand the VCs perspective on what are the factors andcharacteristics that attract and repel investors toward green startups. By undertaking this investigation, we seek to create an understanding of the evaluation criteria, as well as, characteristics and challenges related to VC investments in green startups. Therefore, contributing to the fields of environmental entrepreneurship and entrepreneurial finance, by identifying what VCs take in consideration when evaluating green startups. To develop this understanding of the VCs perspective on green startups we first developed an in-depth literature review of the extant research, then we conducted in-depth semi-structured interviews with practitioners from the mainstream and the greenVC industry operating in Sweden. Furthermore, we implemented an interpretative approach which enabled us to analyze the individual perspectives of VC depending on the context in which they operate. This study provided interesting results that complement the existing literature and provide useful insights on the current state of green VC. Combining the findings of our study with the theories discussed in our comprehensive literature review on green entrepreneurs, green startups and venture capital, we provide an understanding of the evaluation criteria and investment thesis relevant to green startups as well as, insight on characteristics, challenges and opportunities related to investments in green startups. Therefore, this study generates new knowledge in this scarcely studied area of research and provide interesting insights for future research. To the end of this continuum, both actors involved - VCs and green entrepreneurs - will benefit from the findings which provide: green entrepreneurs with the tools to develop green startups with more potential to attract investors; and VCs with an understanding of the nature, challenges and opportunities of green startups´ investments.

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49

Engo, Jean Marc Mezui. "Economic valuation of protected areas : the case of the Lope National Park in Gabon". Thesis, Stellenbosch : Stellenbosch University, 2010. http://hdl.handle.net/10019.1/80780.

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The purpose of this study was to estimate the economic value of the Lopé National Park in Gabon. The creation of the Lopé National Park (LNP) in 2002 aimed at answering international engagements of Gabon as regards conservation of the biodiversity. To be able to value this protected area, an economic valuation technique called the Total Economic Value was applied. Total economic value (TEV) is a valuation method which attempts to estimate monetarily some tangible and intangible environmental benefits. After a brief presentation and an overview of legal aspects of the LNP, two management scenarios were considered: a scenario „with the Lopé National Park‟ and a scenario „without the Lopé National Park‟. The former scenario takes in account the establishment of the park whereas the latter suggests the non-establishment of the park. A set of hypotheses was set to perform the valuation. Furthermore, the data used in this study was based on primary research and various telephone interviews to confirm their validity. Based on various valuation techniques, selected tangible and intangible ecosystem benefits classified as direct use values, indirect use values, option values and existence values were quantified. The result of this study shows that the economic value of the scenario with the Lopé National Park produces a higher economic value than the scenario without the Lopé National Park. In other words, the decision to establish a protected area is a justifiably sound economic decision as it creates social welfare at local, national and international level. It is important to note that this valuation exercise is incomplete as this study does not take into account all the environmental benefits generated by any forest ecosystem due to the difficulty in valuing its intangible nature.

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50

Allemeier, Jodi. "Developing a vulnerability reference framework for Cape Town International Airport in the context of carbon uncertain futures". Thesis, Stellenbosch : Stellenbosch University, 2012. http://hdl.handle.net/10019.1/80778.

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Thesis (MDF)--Stellenbosch University, 2012.
In recent years there has been a growth in literature from multiple disciplines on the potential effects of climate change and a corresponding growth in literature on potential mitigation and adaptation response strategies, including multiple means of shifting to a low-carbon future. Multiple assessment techniques have been developed to understand the potential vulnerability to, and impacts of climate change. At the same time, there is a lack of methodology to understand the potential vulnerability to, and impacts of, responses to climate change on a micro level. This research report describes the development of a reference framework to be used to monitor the vulnerability of the Cape Town International Airport to changes in carbon pricing and/or a shift to a low-carbon future. A theoretical approach was taken, which reviews existing techniques and proposes an integrated framework approach which was then applied to the case study of Cape Town International Airport. Existing literature on what is understood by a low carbon future shows that there is uncertainty about what mitigation and adaptation approaches will be adopted on various scales, and, similarly, uncertainty on what this means for a low carbon economy. Existing scenario development, vulnerability assessment, risk assessment and impact assessment methodologies were then reviewed, revealing a dearth of integrated approaches and an emphasis on the direct impacts of climate change, with a lack of attention to the impacts of responses to climate change. Finally, an overview of what are considered key driving forces in airport feasibility is provided in order to identify potential areas of vulnerability that require attention in any assessment of an airports’ vulnerability to different futures. Building on the various methodologies reviewed, and the understanding of key airport drivers, a reference framework is developed with special focus on the Cape Town International Airport and its current financial structure and planning framework. The final section of the paper discusses preliminary findings as illustrative of the approach, concluding that the framework can be applied via multidisciplinary collaboration, but that further work would be required both internally and externally in order to better manage uncertainties.

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Tesis sobre el tema "Environmental finance"

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