Economic Principles Research Articles

Unlocking the potential of FinTech: A pathway to sustainable resource management in the EU

The rapid growth of the ecological footprint within the European Union (EU) has indicated a strong need for new and innovative approaches to sustainably managing natural resources. To this end, this study delves into how to harness the power of financial technology (FinTech) by infusing the principles of circular economy and technological innovation to address the growing ecological footprint. This study aims to explore the intricate interplay of natural resources, circular economy, and technological innovation on the effect of ecological footprint, particularly focusing on FinTech as a moderator in these relationships. The common correlated effects mean group (CCGMG) estimator addresses panel data's heterogeneity and cross-sectional dependence, which is essential for understanding the complex nature of ecological footprint issues. The evidence from 27 EU countries spanning 2013 to 2021 suggests that while more natural resources are used, the ecological footprint will increase, but improving circular economy practices and technological innovation will massively reduce this increase. Specifically, a 1% increase in natural resources leads to a corresponding 0.079% rise in ecological footprint, while a 1% increase in the circular economy and technological innovation reduces ecological footprint by 0.328% and 0.326%, respectively. Furthermore, FinTech stands out as a pivotal moderating force in amplifying the positive effects of circular economy and technological innovation towards ecological sustainability. Notably, it cushions the negative impacts of natural resource use and reinforces the power of sustainable practices on the footprint-reducing effect. From that angle, several targeted policy recommendations are proposed to harness FinTech's capabilities of resources and waste management, optimizing financial capital allocation, and enhancing financing efficiency. The study provides valuable insights and practical recommendations for promoting green initiatives within the EU and globally, aligning with the overall objectives of environmental sustainability and economic resilience.

A Review Article On The Impact And Evolution Of Sustainable Brands

The growing emphasis on sustainability has prompted significant changes in the fashion industry, particularly among brands striving to align with eco-friendly and ethical practices. This study explores the impact of sustainable brands on consumer behavior and industry standards. It examines how these brands are integrating sustainable practices into their operations, from the use of recycled materials to adopting circular economy principles. Despite consumers' increasing awareness and positive attitudes towards sustainability, there remains a noticeable gap between these attitudes and actual purchasing behaviors. This research highlights the crucial role of sustainable brands in addressing this disconnect by fostering transparency and authenticity in their practices. The study also investigates the effectiveness of various communication strategies employed by sustainable brands to enhance consumer trust and engagement. By analyzing data from consumer surveys and brand case studies, the research identifies key factors influencing the success of sustainable brands, including brand identity, sourcing practices, and marketing strategies. The findings suggest that while sustainable brands are making strides, continued innovation and consumer education are essential for driving broader adoption and achieving meaningful environmental and social impact.

Analyzing the 'Supply Creates its Own Demand' Phenomenon in the Context of Jammu and Kashmir's Economy

This paper examines the phenomenon of "supply creates its own demand" in the context of Jammu and Kashmir's economy. Originally posited by Jean-Baptiste Say, this economic principle asserts that the production of goods and services leads to the generation of income and demand for those same goods and services. In this study, we aim to explore how this phenomenon unfolds within the unique socio-political, geographical, and economic landscape of Jammu and Kashmir. By analyzing key sectors such as agriculture, industry, and tourism, we assess how production drives demand and evaluate factors inhibiting this dynamic, including political instability and infrastructural challenges. A regression analysis is used to provide empirical insights, followed by policy recommendations that could enhance the region's economic growth.

Organizational and economic principles of financial monitoring of national business entities in the context of national security

The article considers the overall landscape and peculiarities of national regulations in the field of financial monitoring, in the retrospect and in the current moment. In particular, the cases of EU as a whole, the Netherlands, the USA, New Zealand and Australia are considered, through the prism of the necessity of compliance with FATF requirements and increased national security threats.

Recycling of RAP (Reclaimed Asphalt Pavement) as aggregate for structural concrete: experimental study on physical and mechanical properties

The replacement of natural aggregate in concrete with artificial and/or recycled one has recently gained attention as meaningful strategy to reduce the environmental impact of structural concrete and promote circular economy principles. This study investigated the possibility to use Reclaimed Asphalt Pavement (RAP), in the “as received conditions”, as a partial or complete substitution of natural aggregate for structural concrete. RAP aggregate was firstly characterized in terms of grain size distribution, density, assessment of fines, chloride content, moisture content and water absorption. Subsequently, a total of twenty-four concrete mixes were designed, considering two cement types, two w/c ratios and several aggregate substitution percentages. For each mix, properties at the fresh and hardened state were investigated, such as workability, density and total open porosity, compressive strength, dynamic modulus of elasticity, and electrical resistivity. Results showed that RAP has a good potential to be used in reinforced concrete, provided that different water absorption and moisture content are considered in the mix design. RAP concrete was characterized by a lower density and increased total open porosity; however, an accurate tailoring of the concrete recipe could compensate the strength loss for several applications. Other properties, such as electrical resistivity and the relationship between dynamic modulus of elasticity and compressive strength did not result significantly altered by the presence of RAP.

Islamic Economy to Reduce Poverty in Indonesia According to the Al-Qur’an

The poverty economy in Indonesia is a serious problem that requires attention and holistic solutions. This research aims to analyze efforts to overcome poverty by referring to economic principles in the Koran and Hadith. Through this approach, we can understand the Islamic view of social justice and economic distribution which can be the basis for more inclusive policies. This research identifies some of the main economic challenges facing Indonesia and analyzes how Islamic principles can be applied to overcome these problems. Efforts to empower communities through education, skills training and small business formation can be strategies that are in accordance with Islamic values. The results of the analysis show that the implementation of Islamic economic principles can make a significant contribution to reducing poverty levels in Indonesia. Therefore, policy recommendations include establishing regulations that support an equitable economic system, strengthening Islamic financial institutions, and increasing public awareness about socio-economic responsibility. This research contributes to our understanding of the potential for faith-based economic solutions to overcome poverty, and can become the basis for the development of more inclusive and sustainable policies in Indonesia.

Optimizing integrated energy systems at park level: A cooperative game approach with exergy economics

This study presents a comprehensive framework for optimizing energy systems by integrating exergy analysis, energy economics, and game theory. The concept of exergy, which quantifies the usable energy within a system, is employed to evaluate energy efficiency and losses across various energy sources, including thermal, cooling, chemical, and electrical systems. Stoichiometric coefficients, denoted by the factor λ, are utilized to simplify exergy calculations for different energy types and processes. The economic evaluation of energy flows is conducted through energy economics principles, incorporating cost allocation and balance equations. The integration of game theory into the optimization model ensures strategic interactions among energy components, leading to a Nash equilibrium that balances economic performance, efficiency, and environmental sustainability. The model also accounts for emissions and the required proportion of renewable energy. To solve the complex optimization problem, a modified Particle Swarm Optimization (PSO) algorithm is employed, featuring adaptive mechanisms for velocity and inertia updates, enhancing the search process for the optimal solution. The proposed framework is designed to optimize the Integrated Energy System (IES) efficiently, ensuring sustainable and economically viable energy management. The analysis of optimization strategies highlights a trade-off between cost and efficiency. Strategy 1, focused on minimizing cost, achieves the lowest cost at 4069.37 CNY, 25.79 % less than Strategy 2, but with a reduced exergy efficiency of 59.82 %, which is 10.14 % lower than Strategy 2′s 68.47 %. Strategy 3 offers a balanced approach, with a cost of 4970.89 CNY, 9.43 % higher than Strategy 1 but 9.43 % lower than Strategy 2. It achieves an exergy efficiency of 67.87 %, only 0.60 % lower than Strategy 2, thus providing a practical compromise between economic performance and efficiency.

Research on the Physical Properties of an Eco-Friendly Layered Geopolymer Composite

Building envelopes with natural fibers are the future of sustainable construction, combining ecology and energy efficiency. The geopolymer building envelope was reinforced with innovative composite bars and two types of natural insulation (coconut mats and flax/hemp non-woven fabrics) were used as the core material. A 10 mol sodium hydroxide solution with an aqueous sodium silicate solution was used for the alkaline activation of the geopolymers. The purpose of this study was to confirm the feasibility of producing geopolymer composites with insulating layers made of renewable materials, which would have compressive strengths like those of C25/30-grade concrete and thermal conductivity coefficients like those of lightweight concrete. This publication presents the results of physicochemical tests on the base materials (oxide (XRF) and mineral phase (XRD) analysis as well as morphology and EDS) and studies the physical (density measurements), mechanical (flexural and compressive strength tests) and insulating properties (thermal conductivity measurements) of the finished sandwich partitions. The composites achieved a flexural strength of 7 MPa, a compressive strength of up to 30 MPa and a decrease in the thermal conductivity coefficient of about 60%. The research demonstrates contribution to sustainable construction by developing geopolymer composites, offering both structural integrity and superior thermal insulation. This innovation not only reduces reliance on traditional, carbon-intensive materials but also promotes the use of eco-friendly resources, significantly lowering the carbon footprint of construction. The integration of natural fibers into geopolymer matrices addresses key environmental concerns, advancing a rapidly growing field that aligns with global efforts toward energy efficiency, waste reduction, and circular economy principles in building design.

Navigating tensions of sustainable supply chains in times of multiple crises: A systematic literature review

AbstractThe challenges posed by multi‐crisis environments, such as pandemics and geopolitical uncertainties, create significant opportunities for supply chains (SC) to enhance their sustainability, resilience, and agility, thereby developing a strategic advantage. However, seizing these opportunities is not without its challenges; critical tensions inevitably arise. This paper, based on a systematic review of 287 SC studies, identifies and discusses five key tensions: (1) increased trade‐offs between sustainability and efficiency; (2) competing priorities between SC sustainability and resilience; (3) mismatched sustainability expectations causing stakeholder pressure; (4) conflicting demands between global and sustainable operations; and (5) unintended consequences of technological innovation, disadvantaging stakeholders with limited resources and capabilities. To mitigate these tensions while leveraging on the opportunities, the study proposes several strategic pathways, including adopting circular economy principles, optimizing inventory and distribution management, employing holistic measurement and forecasting, balancing risk‐hedging with proactive risk management, fostering inclusive stakeholder engagement, balancing globalization and regionalization, and integrating advanced digital technologies alongside with SC ecosystem wide change management. These strategies offer practical guidance for building sustainable and crises‐ready SCs and set the stage for an extensive research agenda to further explore SC sustainability in multi‐crisis environments.

Sustainability of bio‐based polyethylene: The influence of biomass sourcing and end‐of‐life

AbstractBio‐based polymers may present a sustainable, circular way to reduce the environmental impact of plastics because they are produced from biomass that absorbs CO2 during its growth. However, sourcing (type of biomass used and cultivation location), production, and end‐of‐life affect the environmental impact of bio‐based plastics. We assessed the effect of sourcing and end‐of‐life options on the environmental impact of bio‐based high‐density polyethylene (bio‐HDPE) in 31 sourcing scenarios and five end‐of‐life options. Our study found that careful consideration of biomass sourcing (biomass type and production location) and end‐of‐life is needed to optimize the environmental impact of bio‐based plastics. If these aspects are not considered, the environmental impact of bio‐HDPE may exceed that of its petrochemical‐based counterpart. The direct availability of fermentable sugars indicated a lower environmental impact. The production location affected the resources needed for biomass cultivation and the environmental impact of processing due to the energy mix. Recently published guidelines do not allow biogenic carbon to be accounted for during the production stage, but only upon the incineration of the plastic. Our results show that this way of attributing biogenic carbon results in an apparent disadvantage for bio‐based plastics compared to petrochemical‐based plastics. Furthermore, it disadvantaged mechanical recycling of bio‐based plastics compared to incineration, a result out of line with circular economy principles.

Wi-Fi station & Solar Powered Smart-phone Chargers with a Money Multi Coin Selector

The main aim of this study is to present a Wi-Fi station and smart-phone chargers with a money multi coin selector operated through solar energy. Specifically, this study aimed to achieve the following objectives: 1) Determine a solar panel that is appropriate for providing power for a phone charging station. 2) Determine a suitable timing system for providing mobile phone charging services. 3) Determine the acceptability of the device based on the following: a) Physical features; b) Cost; c) Durability; d) Operation. This device is mainly aimed for commercial use since it can require a certain fee for a specified period to charge a mobile phone. It makes possible to highlight two principles of environmental conservation and green economy (using the solar PV) as well as the opening of the workstation.

Waste coffee biochar and bi-oil composite modified rejuvenated asphalt: Preparation, characterization, and performance evaluation

In the realm of sustainable road construction, bio-oil has emerged as a promising and eco-friendly alternative for rejuvenating aged asphalt. Nevertheless, challenges arise due to poor stability, diminished performance at elevated temperatures, and limited anti-aging properties. This study introduces an innovative approach by blending biochar, obtained from the pyrolysis of waste coffee grounds, into bio-oil to create a composite modified regenerator. Initially, the study conducts a microscopic characterization of the biochar using X-ray diffraction (XRD), scanning electron microscopy (SEM), and energy-dispersive X-ray spectroscopy (EDS). Subsequently, the rheological properties of this composite rejuvenated asphalt are evaluated across low, moderate, and high-temperature ranges using bending beam rheometer (BBR), linear amplitude sweep (LAS), and multiple stress creep and recovery (MSCR) tests. Departing from the traditional emphasis on initial property restoration, it further delves into performance alterations after re-aging of rejuvenated asphalt through temperature sweep (TS) and Fourier transform infrared spectroscopy (FTIR) tests, providing a comprehensive assessment of the anti-aging characteristics of rejuvenated asphalt. Additionally, gel permeation chromatography (GPC) is employed to quantitatively analyze the changes in asphalt molecular weight distribution. The microscopic characterization reveals the development of a rough and porous structure within the biochar, facilitating enhanced adhesion and interaction between the rejuvenator and the asphalt binder. Moreover, bio-oil rejuvenated asphalt exhibits excellent low-temperature crack resistance and moderate-temperature fatigue resistance. Following the incorporation of biochar, notable enhancements in high-temperature rutting resistance and anti-aging properties are observed, validating the efficacy of the biochar with bio-oil composite modified regenerator. To achieve optimal performance outcomes, a biochar content of 6 % (as a proportion of aged asphalt), corresponding to a 1:1 ratio of biochar to bio-oil, is recommended. Under this condition, the properties of the composite modified rejuvenated asphalt demonstrate comparability to those of the original asphalt. In summary, this research underscores the potential for integrating waste coffee biochar material into infrastructure development, thereby promoting circular economy principles and advancing more sustainable construction practices.

Structural Reuse of Decommissioned Ski Lift Steel Trusses for Load-Bearing Applications

The ongoing effects of climate change have led to a rise in global temperature, significantly reducing snow cover and resulting in the abandonment of numerous ski areas across Switzerland. As a result, many ski lifts have been decommissioned and left to deteriorate due to lenient local regulations. To address this issue, this paper presents a case study approach to repurposing steel trusses from abandoned ski lifts for a new structural application within the building industry. The design, sourcing, and construction of a new load-supporting column are described, focusing on reusing the ski lift steel trusses as a whole, without dismantling them into their components. After collection, these elements are adapted to comply with current building standards. By pouring out the hollow structure with the recently developed building material Cleancrete ©, a new load-bearing structure is developed. A comprehensive life cycle assessment (LCA) demonstrates the environmental performance of the steel–Cleancrete hybrid construction, which achieves a global warming potential (GWP) of 536.58 kg CO2-eq. In comparison, alternative designs using wood and concrete exhibited GWP values of 679.45 kg CO2-eq, +26.6%, and 1593.72 kg CO2-eq, +197.02%, respectively. These findings suggest that repurposing abandoned ski lift structures can significantly contribute to sustainable building practices, waste reduction, and the promotion of circular economy principles. The process outlined in this paper holds potential for future applications, particularly in the reuse of other steel components, ensuring continued circularity even as the supply of ski lift structures may dwindle.

Circular Economy Models in Renewable Energy: Technological Innovations and Business Viability

The transitions from fossil-based energy to renewable energy are deeply connected with circular economy solutions for business development and innovation. This paper aims to evaluate to what extent innovation in renewable energy can be used to advance circular economy strategies, with emphasis on the business aspect. Using a combination of qualitative and quantitative analysis, the research analyzes case contributions of a number of RES projects that apply CE principles. It also focuses on the main issues which specialists encounter while implementing these models and considers their economic feasibility. The results show that circular economy principles present renewable energy firms with tremendous potential for enhancing resource use efficiency and financial performance. This research provides practical recommendations aimed at the stakeholders in terms of constructing a more sustainable energy system. In doing so this research adds novelty by identifying the technological factors as advocates for implementing circular economy models to support business outcomes within the renewable energy industry.

Energy transition in the oil and gas sector: Business models for a sustainable future

The global energy landscape is undergoing a significant transformation as industries shift towards more sustainable practices, driven by environmental regulations, societal pressure, and technological advancements. The oil and gas sector, traditionally dependent on fossil fuels, is at the forefront of this energy transition. This review explores the evolving business models that facilitate the industry's transition to a low-carbon economy, focusing on strategies for achieving sustainability while maintaining profitability. Key approaches include diversifying energy portfolios by investing in renewable energy sources such as wind, solar, and hydrogen, as well as enhancing operational efficiency through digital technologies like artificial intelligence and the Internet of Things (IoT). The transition is also marked by an increased focus on carbon capture, utilization, and storage (CCUS) technologies, which mitigate the environmental impact of traditional oil and gas operations. Business models are being reshaped to incorporate circular economy principles, where waste and emissions are minimized through innovation and resource optimization. Furthermore, partnerships between oil and gas companies and renewable energy firms are emerging as a critical pathway for mutual growth and sustainability. This energy transition also involves rethinking the workforce and reskilling employees for emerging sectors, emphasizing the need for adaptability in business models. Regulatory frameworks play a pivotal role in shaping these models, as policies increasingly favor green investments and low-carbon initiatives. As oil and gas companies diversify their portfolios, they are creating new revenue streams that align with global decarbonization goals while ensuring financial resilience. This study highlights how these innovative business models are setting the foundation for a sustainable future in the oil and gas sector, ensuring that the industry remains relevant in a rapidly changing energy ecosystem. Keywords: Energy Transition, Oil and Gas, Business Models, Sustainability, Renewable Energy, Carbon Capture, Circular Economy, Digital Transformation, Decarbonization, Low-Carbon Economy.

Optimized pyrolytic synthesis and physicochemical characterization of date palm seed biochar: unveiling a sustainable adsorbent for environmental remediation applications.

This study focuses on the optimization and comprehensive characterization of biochar synthesized from date palm seeds (DPS), a prevalent agricultural waste in arid regions. Using response surface methodology (RSM) with a central composite design (CCD), we optimized the pyrolysis process by investigating the effects of time (1-3 h) and temperature (600-900 °C) on critical properties such as specific surface area, pore volume, and yield. The optimized biochar, produced at 828 °C for 1.7 h, demonstrated a high specific surface area of 654.8 m2/g and well-developed microporosity. Characterization techniques, including XRD, FTIR, SEM-EDS, and BET analyses, revealed an amorphous carbon structure with graphitic domains, diverse surface functionalities, and a heterogeneous porous microstructure. The biochar's point of zero charge at pH 7.58 indicates its potential for selective adsorption of charged contaminants. The close agreement between RSM-predicted and experimental values for specific surface area (652.1 m2/g vs. 654.8 m2/g) and micropore volume (0.191 cm3/g vs. 0.190 cm3/g) validates the effectiveness of the model in optimizing biochar properties. This research highlights the potential of DPS-derived biochar as a sustainable adsorbent for environmental remediation, opening avenues for valorizing agricultural wastes and contributing to circular economy principles.

Novel Encapsulation Approaches in the Functional Food Industry: With a Focus on Probiotic Cells and Bioactive Compounds.

Bioactive substances can enhance host health by modulating biological reactions, but their absorption and utilization by the body are crucial for positive effects. Encapsulation of probiotics is rapidly advancing in food science, with new approaches such as 3D printing, spray-drying, microfluidics, and cryomilling. Co-encapsulation with bioactives presents a cost-effective and successful approach to delivering probiotic components to specific colon areas, improving viability and bioactivity. However, the exact method by which bioactive chemicals enhance probiotic survivability remains uncertain. Co-crystallization as an emerging encapsulation method improves the physical characteristics of active components. It transforms the structure of sucrose into uneven agglomerated crystals, creating a porous network to protect active ingredients. Likewise, electrohydrodynamic techniques are used to generate fibers with diverse properties, protecting bioactive compounds from harsh circumstances at ambient temperature. Electrohydrodynamic procedures are highly adaptable, uncomplicated, and easily expandable, resulting in enhanced product quality and functionality across various food domains. Furthermore, food byproducts offer nutritional benefits and technical potential, aligning with circular economy principles to minimize environmental impact and promote economic growth. Hence, industrialized nations can capitalize on the growing demand for functional foods by incorporating these developments into their traditional cuisine and partnering with businesses to enhance manufacturing and production processes.

Designing cost-effective data solutions: Best practices from multi-million dollar projects involving cross-functional teams and diverse data sources

This paper explores the design and implementation of cost-effective data solutions, focusing on multi-million dollar projects that involve cross-functional teams and diverse data sources. The study aims to identify best practices and technological advancements that enhance data management efficiency, ensuring scalability, security, and compliance. Employing a comprehensive review of existing literature and case studies, the paper examines the challenges and opportunities in integrating technologies such as AI, machine learning, cloud computing, and blockchain. Key findings highlight the importance of cross-functional collaboration in addressing data management complexities and the adoption of agile methodologies to enhance adaptability and efficiency. The study also underscores the significance of advanced data integration techniques and the application of circular economy principles to promote sustainability in data management. The conclusion provides actionable recommendations for organizations seeking to optimize their data solutions, emphasizing the need for strategic investment in emerging technologies and a robust data governance framework. By offering insights into future trends and research directions, this paper contributes to the ongoing discourse on developing cost-effective, secure, and sustainable data solutions in an increasingly digitalized world. Keywords: Cost-Effective Data Solutions, Cross-Functional Teams, Data Integration, Cybersecurity, Artificial Intelligence, Circular Economy Principles

Winter is Coming: A Tale of Two Futures – Entrepreneurial State or Creative Destruction?

This paper aims to explore the fundamental principles of sound monetary policy, fiscal prudence, and entrepreneurial innovation, which have historically supported the economic prosperity of nations. It seeks to identify the factors leading to an impending financial crisis and proposes countermeasures based on market liberalization and individual entrepreneurial resilience. Using a critical analysis of prevailing economic conditions, this paper evaluates the unchecked expansion of the monetary supply, fiscal policies, and government interventions. The methodology includes a review of historical economic trends and the application of theoretical frameworks concerning monetary policy, fiscal responsibility, and market innovation. The research identifies that the unchecked expansion of the monetary supply has contributed to inflationary pressures, diminished savings incentives, and led to the misallocation of capital. In addition, fiscal looseness and increased government intervention have exacerbated these economic vulnerabilities, creating conditions ripe for an economic crisis of substantial magnitude, possibly surpassing previous crises such as the Great Recession and the COVID-19 pandemic. The paper concludes that this impending crisis is not an unforeseeable "black swan" event but rather one with clear warning signs that require immediate action. The findings advocate for a departure from interventionist policies and emphasize the importance of returning to foundational economic principles, including market liberalization and fostering individual creativity and entrepreneurial innovation. This paper serves as a timely call for policymakers to address these challenges before the full impact of the crisis is realized.

Toxic-Free Environment: Forever Chemicals Removal from Water and Wastewater

Per- and polyfluoroalkyl substances (PFAS), commonly known as "forever chemicals," are persistent synthetic compounds that have been widely utilized since the mid-20th century across various industries. Due to their environmental persistence and potential health risks, PFAS has become a significant concern, particularly in relation to water and wastewater contamination. This paper investigates the complex challenges associated with PFAS, focusing on existing regulatory frameworks, treatment strategies, and innovative clean technologies that aim to reduce or eliminate these harmful substances. The study emphasizes the importance of advanced treatment methods such as electrochemical degradation, nanofiltration, adsorption, and biodegradation, each offering varying degrees of success. Despite advancements in treatment technologies, prevention remains the most effective strategy to minimize PFAS pollution. The paper calls for collaborative efforts from regulatory bodies, industries, and communities to implement more sustainable practices, ensuring a toxic-free environment and aligning with circular economy principles. Continuous research and international cooperation are crucial for developing effective long-term solutions to address PFAS contamination and safeguard both public health and the environment.