After many years in the experiences of world development, it has become obvious that proper development approaches have to be pursued. Capitalism as a dominant perspective has come with a mixture of successes but major setbacks. The setbacks include inequality and a widening gap between rich and poor. The result has been rampant increase not just in crime but radical and organised crime eg. terrorism. Youths are being radicalized and because they suffer from youth unemployment, become very willing to participate in crime. “We have nothing to loose” they say. The situation has been complicated further in that, educated unemployed youths have become very remorseful and feel that the world owes them a living. A concept of sustainable development must remedy social inequities and environmental damage, while maintaining a sound economic base. What is becoming clear is the fact that the rich will not enjoy their wealth in peace, not when others are crying for basic needs.These has forced the opinion drivers of the world especially the Bretton wood institutions and the United Nations (UN) to adopt other sustainable development approaches and with this, came the birth of sustainable development. This is development that considers that social upheavals will always distract economic achievements when the two are not in equilibrium. Furthermore, populations have also tended to turn back to the environment to fulfill basic social needs eg. illegal logging, poaching etc... Natural environment is finite and plays a major part in the equation too. The three systems of SOCIAL, ECONOMIC and ENVIRONMENT are interlinked and their solutions will always come from these relationship. The world agenda has shifted focus to sustainable Development Goals (SDGs) which hope to be achieved by the year 2030. Chief among them is the provision of social safety nets like youth employment. This has not been achieved under current development paradigms. It is only by balancing the delicate equations that the entire global development agenda will be achieved. The players do not have a choice, as time has proved that unwelcome consequences for say, civil unrests and crime, affect everybody and pose a risk to the globalized development economics. This paper discusses these various issues in brief and credits the concept of sustainable development as having potential to rally global development to a new phase in world history.
{"title":"A Discussion on Sustainable Development","authors":"Antony Munene Kamakia","doi":"10.2139/ssrn.2653722","DOIUrl":"https://doi.org/10.2139/ssrn.2653722","url":null,"abstract":"After many years in the experiences of world development, it has become obvious that proper development approaches have to be pursued. Capitalism as a dominant perspective has come with a mixture of successes but major setbacks. The setbacks include inequality and a widening gap between rich and poor. The result has been rampant increase not just in crime but radical and organised crime eg. terrorism. Youths are being radicalized and because they suffer from youth unemployment, become very willing to participate in crime. “We have nothing to loose” they say. The situation has been complicated further in that, educated unemployed youths have become very remorseful and feel that the world owes them a living. A concept of sustainable development must remedy social inequities and environmental damage, while maintaining a sound economic base. What is becoming clear is the fact that the rich will not enjoy their wealth in peace, not when others are crying for basic needs.These has forced the opinion drivers of the world especially the Bretton wood institutions and the United Nations (UN) to adopt other sustainable development approaches and with this, came the birth of sustainable development. This is development that considers that social upheavals will always distract economic achievements when the two are not in equilibrium. Furthermore, populations have also tended to turn back to the environment to fulfill basic social needs eg. illegal logging, poaching etc... Natural environment is finite and plays a major part in the equation too. The three systems of SOCIAL, ECONOMIC and ENVIRONMENT are interlinked and their solutions will always come from these relationship. The world agenda has shifted focus to sustainable Development Goals (SDGs) which hope to be achieved by the year 2030. Chief among them is the provision of social safety nets like youth employment. This has not been achieved under current development paradigms. It is only by balancing the delicate equations that the entire global development agenda will be achieved. The players do not have a choice, as time has proved that unwelcome consequences for say, civil unrests and crime, affect everybody and pose a risk to the globalized development economics. This paper discusses these various issues in brief and credits the concept of sustainable development as having potential to rally global development to a new phase in world history.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114239477","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper I sketch key episodes in the two thousand year history of interactions between society and environment that have shaped the City of London and its hinterlands. My purpose in writing it has been to provide an empirical puzzle for use in teaching and theorizing about the long term coevolution of social-environmental systems and the potential role of policy interventions in guiding that coevolution toward sustainability. I undertook it because while a lively body of theory has begun to emerge seeking to explain such coevolution, rich descriptive characterizations of how specific social-environmental systems have in fact changed over the long time periods (multi-decade to multi-century) relevant to sustainable development remain relatively rare. One result is that the field of sustainability science lacks a sufficient number of the rich empirical puzzles that any field of science needs to challenge its theorizing, modeling and predictions. This paper reflects the beginning of an effort to provide one such characterization on a topic central to sustainability: the long term development of cities and their hinterlands.
{"title":"London: A Multi-Century Struggle for Sustainable Development in an Urban Environment","authors":"W. Clark","doi":"10.2139/ssrn.2662111","DOIUrl":"https://doi.org/10.2139/ssrn.2662111","url":null,"abstract":"In this paper I sketch key episodes in the two thousand year history of interactions between society and environment that have shaped the City of London and its hinterlands. My purpose in writing it has been to provide an empirical puzzle for use in teaching and theorizing about the long term coevolution of social-environmental systems and the potential role of policy interventions in guiding that coevolution toward sustainability. I undertook it because while a lively body of theory has begun to emerge seeking to explain such coevolution, rich descriptive characterizations of how specific social-environmental systems have in fact changed over the long time periods (multi-decade to multi-century) relevant to sustainable development remain relatively rare. One result is that the field of sustainability science lacks a sufficient number of the rich empirical puzzles that any field of science needs to challenge its theorizing, modeling and predictions. This paper reflects the beginning of an effort to provide one such characterization on a topic central to sustainability: the long term development of cities and their hinterlands.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129573037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Mysiak, S. Surminski, A. Thieken, R. Mechler, J. Aerts
In March 2015, a new international blueprint for disaster risk reduction (DRR) has been adopted in Sendai, Japan, at the end of the Third UN World Conference on Disaster Risk Reduction (WCDRR, March 14-18, 2015). We review and discuss the agreed commitments and targets, as well as the negotiation leading the Sendai Framework for DRR (SFDRR) and discuss briefly its implication for the later UN-led negotiations on sustainable development goals and climate change.
{"title":"Sendai Framework for Disaster Risk Reduction – Success or Warning Sign for Paris?","authors":"J. Mysiak, S. Surminski, A. Thieken, R. Mechler, J. Aerts","doi":"10.2139/ssrn.2636185","DOIUrl":"https://doi.org/10.2139/ssrn.2636185","url":null,"abstract":"In March 2015, a new international blueprint for disaster risk reduction (DRR) has been adopted in Sendai, Japan, at the end of the Third UN World Conference on Disaster Risk Reduction (WCDRR, March 14-18, 2015). We review and discuss the agreed commitments and targets, as well as the negotiation leading the Sendai Framework for DRR (SFDRR) and discuss briefly its implication for the later UN-led negotiations on sustainable development goals and climate change.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127451636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Objectives – The aim of the paper is to study the sustainability level of the city of Rome (Italy) as a tourist destination. The paper’s basic assumption is based on the fact that, compared to other international tourist destinations, Rome is high on the list as far as the number of international visitors is concerned, yet it is not the city at the top of the list. Design/Methodology/Approach – The methodology used is that of case study research (Yin, 2003). The results will be evaluated by applying the Weaver model (2000, 2011). According to Weaver, the competitiveness of a tourist destination depends on the level of sustainability of tourism development. Originality/Value – Sustainability implies that tourist destinations are governed and managed in such a way as to satisfy the expectations of the visitor in accordance with the socio-economic and natural environment in which such destinations operate. Thus the management of the sustainability of the destination is an essential ingredient in the development of the entire surrounding area. As a tourist destination, the city has made great efforts to diversify its offer to visitors, including new infrastructural, cultural and sport facilities in order to enhance its attraction as a tourist site, and as a result, to encourage new businesses and provide employment. Practical Implications – The relationship between sustainability and competitiveness is based on the belief that businesses that pursue environmental and economic and social performance improvements may benefit from these activities.
{"title":"Sustainability Development and Competitiveness of Rome as a Tourist Destination","authors":"Marco Valeri","doi":"10.20867/THM.21.2.7","DOIUrl":"https://doi.org/10.20867/THM.21.2.7","url":null,"abstract":"Objectives – The aim of the paper is to study the sustainability level of the city of Rome (Italy) as a tourist destination. The paper’s basic assumption is based on the fact that, compared to other international tourist destinations, Rome is high on the list as far as the number of international visitors is concerned, yet it is not the city at the top of the list. Design/Methodology/Approach – The methodology used is that of case study research (Yin, 2003). The results will be evaluated by applying the Weaver model (2000, 2011). According to Weaver, the competitiveness of a tourist destination depends on the level of sustainability of tourism development. Originality/Value – Sustainability implies that tourist destinations are governed and managed in such a way as to satisfy the expectations of the visitor in accordance with the socio-economic and natural environment in which such destinations operate. Thus the management of the sustainability of the destination is an essential ingredient in the development of the entire surrounding area. As a tourist destination, the city has made great efforts to diversify its offer to visitors, including new infrastructural, cultural and sport facilities in order to enhance its attraction as a tourist site, and as a result, to encourage new businesses and provide employment. Practical Implications – The relationship between sustainability and competitiveness is based on the belief that businesses that pursue environmental and economic and social performance improvements may benefit from these activities.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131658044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
It makes far more economic sense to prepare for disaster in advance than it does to stage heroic relief efforts after calamity strikes. For reasons rooted in politics and emotion, the law does exactly the opposite. Ad hoc relief, as expensive as it is spontaneous, dominates disaster law and policy.The President’s unilateral power to declare a federal disaster under the Stafford Act invites political manipulation. To test whether presidential disaster declarations track the four-year presidential electoral cycle, this paper devises a generalized polynomial and multi-sinusoidal model for detecting cyclical patterns. This model draws heavily upon Fourier analysis and digital signal processing.Presidential disaster declarations since 1953 reveal not one but two forms of periodicity. As expected, a “short wave” of four years shows how disaster declarations track the presidential election cycle. The effect is most pronounced not in election years (when declarations do spike), but in years immediately following a presidential election (when declarations dramatically plummet). Even more surprisingly, the record suggests that presidential disaster declarations also follow a “long wave,” whose frequency appears to be 44 years.
{"title":"Legal Signal Processing","authors":"J. Chen","doi":"10.2139/SSRN.2614273","DOIUrl":"https://doi.org/10.2139/SSRN.2614273","url":null,"abstract":"It makes far more economic sense to prepare for disaster in advance than it does to stage heroic relief efforts after calamity strikes. For reasons rooted in politics and emotion, the law does exactly the opposite. Ad hoc relief, as expensive as it is spontaneous, dominates disaster law and policy.The President’s unilateral power to declare a federal disaster under the Stafford Act invites political manipulation. To test whether presidential disaster declarations track the four-year presidential electoral cycle, this paper devises a generalized polynomial and multi-sinusoidal model for detecting cyclical patterns. This model draws heavily upon Fourier analysis and digital signal processing.Presidential disaster declarations since 1953 reveal not one but two forms of periodicity. As expected, a “short wave” of four years shows how disaster declarations track the presidential election cycle. The effect is most pronounced not in election years (when declarations do spike), but in years immediately following a presidential election (when declarations dramatically plummet). Even more surprisingly, the record suggests that presidential disaster declarations also follow a “long wave,” whose frequency appears to be 44 years.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116857586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Wilhelm Loewenstein, M. Shakya, Marc Hansen, S. Gorkhali
Corporate Social Responsibility (CSR) can work as an effective means towards minimising business risk and maintaining amicable relationships with diverse groups of stakeholders. While many studies have examined the impacts of CSR on firm value and customer perceptions, little is known about the effects of a philanthropic engagement of the private sector on external stakeholder groups, such as local communities in developing countries. This paper examines welfare effects of six community-based water supply projects that were supported by a thermal power plant in Sri Lanka as part of the company's CSR strategy. The implications of these CSR activities are analysed from the perspective of the project beneficiaries, the majority of them poor smallholder farmers. Household production and labour income functions are estimated from survey data to analyse two pathways through which the water projects affect the beneficiaries' lives. First, the households get individual access to water that allows for the irrigation of home gardens, increases land productivity and changes households' farm output and income (irrigation channel). Second, the projects have an indirect effect on households' income via a time channel, i.e. the effect that due to the individual water access the households save time as there is no need any more to fetch water from far away water bodies or wells. This allows for a reallocation of labour time for other productive income-generating activities. Despite the considerable costs that households have to bear for an individual water connection, the study finds a systematic, positive net income effect of the projects on the beneficiaries via both the irrigation and the time channel. Qualitative evidence supports these findings and also reveals additional positive, non-monetarised project impacts. As the water projects would not have been realised without the subsidiary financial support of the power plant, it is concluded that the company's CSR engagement is increasing the welfare of the beneficiary communities.
{"title":"Do the Poor Benefit from Corporate Social Responsibility? A Theory-Based Impact Evaluation of Six Community-Based Water Projects in Sri Lanka","authors":"Wilhelm Loewenstein, M. Shakya, Marc Hansen, S. Gorkhali","doi":"10.2139/SSRN.2614488","DOIUrl":"https://doi.org/10.2139/SSRN.2614488","url":null,"abstract":"Corporate Social Responsibility (CSR) can work as an effective means towards minimising business risk and maintaining amicable relationships with diverse groups of stakeholders. While many studies have examined the impacts of CSR on firm value and customer perceptions, little is known about the effects of a philanthropic engagement of the private sector on external stakeholder groups, such as local communities in developing countries. This paper examines welfare effects of six community-based water supply projects that were supported by a thermal power plant in Sri Lanka as part of the company's CSR strategy. The implications of these CSR activities are analysed from the perspective of the project beneficiaries, the majority of them poor smallholder farmers. Household production and labour income functions are estimated from survey data to analyse two pathways through which the water projects affect the beneficiaries' lives. First, the households get individual access to water that allows for the irrigation of home gardens, increases land productivity and changes households' farm output and income (irrigation channel). Second, the projects have an indirect effect on households' income via a time channel, i.e. the effect that due to the individual water access the households save time as there is no need any more to fetch water from far away water bodies or wells. This allows for a reallocation of labour time for other productive income-generating activities. Despite the considerable costs that households have to bear for an individual water connection, the study finds a systematic, positive net income effect of the projects on the beneficiaries via both the irrigation and the time channel. Qualitative evidence supports these findings and also reveals additional positive, non-monetarised project impacts. As the water projects would not have been realised without the subsidiary financial support of the power plant, it is concluded that the company's CSR engagement is increasing the welfare of the beneficiary communities.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126330094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the stability of the estimated statistical relation of global mean temperature and global mean sea-level with regard to data revisions. Using three different model speci?cations proposed in the literature, we compare coefficient estimates and forecasts using two different vintages of the annual time series. We ?find that two out of the three models, proposed in [1] and in [2], are very sensitive to the revisions. The magnitude of the estimated coefficient of infl?uence as well as the implied long-term forecasts change drastically between the two data vintages considered. The model proposed in [3], on the other hand, reacts robustly to the revisions.
{"title":"Data Revisions and the Statistical Relation of Global Mean Sea-Level and Temperature","authors":"Eric Hillebrand, S. Johansen, T. Schmith","doi":"10.2139/ssrn.2612924","DOIUrl":"https://doi.org/10.2139/ssrn.2612924","url":null,"abstract":"We study the stability of the estimated statistical relation of global mean temperature and global mean sea-level with regard to data revisions. Using three different model speci?cations proposed in the literature, we compare coefficient estimates and forecasts using two different vintages of the annual time series. We ?find that two out of the three models, proposed in [1] and in [2], are very sensitive to the revisions. The magnitude of the estimated coefficient of infl?uence as well as the implied long-term forecasts change drastically between the two data vintages considered. The model proposed in [3], on the other hand, reacts robustly to the revisions.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127416969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The environmental issues, policy plasticity, and regulatory instruments that shaped the early decades of environmental law are no longer dominant. Climate change has the potential to dwarf the issues that sparked the environmental movement, the worldviews and coalitions that enabled enactment of more than a dozen major environmental statutes are long gone, and the standard tools of the trade – government regulation, cap-and-trade systems, and taxes – are often not politically viable. Although the ground has shifted under environmental law, new approaches to environmental governance have emerged that can bypass barriers to government action on climate change and other important environmental problems. Recent executive branch regulations will reduce carbon emissions, as will efforts by state and local governments. The international process also may yield additional reductions. But these public governance measures will fall far short of the reductions necessary to reduce the risk of serious climate disruption. The remarkable growth of private climate governance in the last decade demonstrates how private initiatives that target households, corporations, and other organizations can complement public measures and generate major reductions at low cost and without government action. The actors driving these emissions reductions are private institutions rather than government, and the actions are private initiatives, not statutes, regulations or international agreements. These private initiatives do not rely simply on support for climate mitigation, which is often thin, but also harness efficiency incentives that are unexploited because of widespread market and behavioral failures. Private governance is not a substitute for government action, but it can reduce climate risks, complements government response, and provide a window into the future of environmental law.
{"title":"Reconceptualizing the Future of Environmental Law: The Role of Private Climate Governance","authors":"M. Vandenbergh","doi":"10.58948/0738-6206.1764","DOIUrl":"https://doi.org/10.58948/0738-6206.1764","url":null,"abstract":"The environmental issues, policy plasticity, and regulatory instruments that shaped the early decades of environmental law are no longer dominant. Climate change has the potential to dwarf the issues that sparked the environmental movement, the worldviews and coalitions that enabled enactment of more than a dozen major environmental statutes are long gone, and the standard tools of the trade – government regulation, cap-and-trade systems, and taxes – are often not politically viable. Although the ground has shifted under environmental law, new approaches to environmental governance have emerged that can bypass barriers to government action on climate change and other important environmental problems. Recent executive branch regulations will reduce carbon emissions, as will efforts by state and local governments. The international process also may yield additional reductions. But these public governance measures will fall far short of the reductions necessary to reduce the risk of serious climate disruption. The remarkable growth of private climate governance in the last decade demonstrates how private initiatives that target households, corporations, and other organizations can complement public measures and generate major reductions at low cost and without government action. The actors driving these emissions reductions are private institutions rather than government, and the actions are private initiatives, not statutes, regulations or international agreements. These private initiatives do not rely simply on support for climate mitigation, which is often thin, but also harness efficiency incentives that are unexploited because of widespread market and behavioral failures. Private governance is not a substitute for government action, but it can reduce climate risks, complements government response, and provide a window into the future of environmental law.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127136631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper explores the implications of achieving the EU27 Resource Efficiency target by 2030 for the future sustainability of the area. The target involves increasing by well over 30% within 2030 EU27 Resource Productivity, which would correspond to nearly double the annual growth rate of the pre-crisis period. The analysis uses a model-based index (FEEM Sustainability Index, FEEM SI) conceived to assess sustainability across time and countries. FEEM SI builds on the recursive-dynamic computable general equilibrium (CGE) model ICES-SI, which considers jointly variables belonging to the three sustainability dimensions (economy, society, and environment). The indicators produced in this framework are first normalized and then aggregated by using some elicited weights and a non-linear methodology. The 30% increase of EU27 Resource Efficiency by 2030 is achieved by applying an ad-valorem tax to the use of mining resources, and offsets the negative effects on the economy (slightly lower GDP and Investment rate) with considerable benefits for the environment. This implies a 1.02% increase in overall EU sustainability with respect to the reference “no policy” scenario.
{"title":"Implications of the 2030 EU Resource Efficiency Target on Sustainable Development","authors":"L. Campagnolo, F. Eboli","doi":"10.2139/ssrn.2600838","DOIUrl":"https://doi.org/10.2139/ssrn.2600838","url":null,"abstract":"The paper explores the implications of achieving the EU27 Resource Efficiency target by 2030 for the future sustainability of the area. The target involves increasing by well over 30% within 2030 EU27 Resource Productivity, which would correspond to nearly double the annual growth rate of the pre-crisis period. The analysis uses a model-based index (FEEM Sustainability Index, FEEM SI) conceived to assess sustainability across time and countries. FEEM SI builds on the recursive-dynamic computable general equilibrium (CGE) model ICES-SI, which considers jointly variables belonging to the three sustainability dimensions (economy, society, and environment). The indicators produced in this framework are first normalized and then aggregated by using some elicited weights and a non-linear methodology. The 30% increase of EU27 Resource Efficiency by 2030 is achieved by applying an ad-valorem tax to the use of mining resources, and offsets the negative effects on the economy (slightly lower GDP and Investment rate) with considerable benefits for the environment. This implies a 1.02% increase in overall EU sustainability with respect to the reference “no policy” scenario.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124182870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper examines the evolving role of gold in the light of the current gold rush in India despite the worsening financial crisis across the globe and aggressive inflationary conditions. Economically, gold is a lucrative investment that consistently provides high rate of returns, a hedge against inflation in the long term, a store of wealth, a medium of exchange and a standard of currency that makes it an endearing entity. For Indians, there are cultural and religious implications that lead both the rich and the poor alike to the altar of gold. That is why India remains the largest importer and consumer of gold. The paper calls into question this assumption of gold as a ‘safe asset’ in the light of past experience with the backing of economic theory. It proceeds to analyse the present international gold prices, whether it is a sign of a gold bubble and the financial ramifications it has on the Indian economy. The core argument of the paper is that large imports of gold into the economy has negative consequences for house hold savings, external stability, current account deficit and foreign exchange reserves. Besides, there is the ethical argument of holding idle gold in a country where it can be put to better use for developmental purpose. The paper argues that there is a need for integrating gold into the financial and monetary system to augment the productive capacity of the economy. An alternative approach involving demand reduction, supply management and monetisation of gold in a benign inflationary environment is the foundation of a sustainable gold policy.
{"title":"Managing Gold: Examining India's Gold Rush, Its Causes and Concerns with Suggestions for a Sustainable Gold Policy","authors":"Francis Kuriakose, Deepa Kylasam Iyer","doi":"10.2139/ssrn.2578987","DOIUrl":"https://doi.org/10.2139/ssrn.2578987","url":null,"abstract":"The paper examines the evolving role of gold in the light of the current gold rush in India despite the worsening financial crisis across the globe and aggressive inflationary conditions. Economically, gold is a lucrative investment that consistently provides high rate of returns, a hedge against inflation in the long term, a store of wealth, a medium of exchange and a standard of currency that makes it an endearing entity. For Indians, there are cultural and religious implications that lead both the rich and the poor alike to the altar of gold. That is why India remains the largest importer and consumer of gold. The paper calls into question this assumption of gold as a ‘safe asset’ in the light of past experience with the backing of economic theory. It proceeds to analyse the present international gold prices, whether it is a sign of a gold bubble and the financial ramifications it has on the Indian economy. The core argument of the paper is that large imports of gold into the economy has negative consequences for house hold savings, external stability, current account deficit and foreign exchange reserves. Besides, there is the ethical argument of holding idle gold in a country where it can be put to better use for developmental purpose. The paper argues that there is a need for integrating gold into the financial and monetary system to augment the productive capacity of the economy. An alternative approach involving demand reduction, supply management and monetisation of gold in a benign inflationary environment is the foundation of a sustainable gold policy.","PeriodicalId":296234,"journal":{"name":"SRPN: Sustainable Development (Topic)","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127131485","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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