Economic Criteria Research Articles

Strategic Organizational Sustainability in the Age of Sustainable Development Goals

This study aims to explore the implementation of sustainability strategies in Portuguese SMEs. The methodology used in this study is qualitative, and it was carried out via multiple case studies, through interviews, with companies located in Portugal. The interviewed companies revealed their management practices regarding sustainable innovation and a business model focused on sustainable economic, social, and environmental criteria. Regarding the management of sustainable innovation, we assessed the interviewed companies as having accommodative and proactive strategies. Consequently, measures were presented at the level of sustainable management that companies may implement in their operations involving the participation of various stakeholders. This study is original not only for being exclusively related to SMEs but also because it is the first to consider the context of Portuguese companies, thereby contributing to the existing literature on this subject.

A Study on the Viability of Adopting Battery Electric Vehicles in Bus Rapid Transit in Brazil Using the AHP Method

Public transport is essential to provide urban mobility, and cities need to offer a fast, comfortable, secure, and low-pollutant public transport mode to attract passengers and reduce private car use. Despite metros, trains, and light rail systems being desirable, the cost of implementation and low flexibility make bus services the best option for many cities. One solution for improving bus service systems is the implementation of bus rapid transit systems that are composed of buses running in segregated lines with pre-payment fares and level boarding platforms in stations. However, the main challenge of bus systems is the use of engines fueled by diesel, which is extremely polluted. One possible solution is the use of battery buses; but are they really feasible regarding daily operation cost? In this paper, we investigate the adoption of battery buses in comparison to diesel engines in a BRT system using municipal data from São Paulo, Brazil, as a reference. We collected operational data from the Sao Paulo city government transport agency and data from the literature to produce an analytic hierarchy process (AHP) model, which allowed us to compare both systems. The AHP model considered a triple-bottom-line perspective using social, economic, and environmental impact criteria. The result showed that the initial costs of acquisition can be a barrier, but in the long run, cities adopting battery buses in their BRT system can benefit from the effects of reduction in gas emissions and longer lifetimes of electric bus components. Moreover, the results showed that the adoption of battery buses in BRT systems depends on local government subsidies being implemented.

ANALYSIS OF DETERMINING PRIORITY OF ROAD HANDLING PROGRAM IN THE REGION OF KEDIRI ROAD AND BRIDGE MANAGEMENT DEPARTMENT OF HIGHWAYS EAST JAVA PROVINCE USING MULTI CRITERIA ANALYSIS (MCA) METHOD

Steady road conditions determine the smooth running of land transportation to support economic activity. To achieve steady road conditions requires a good road management program. The government, through the agencies appointed as road administrators, needs funds to maintain the stability of the road itself. The process of budgeting funds for the implementation of the road through a process of proposals, discussions and determination of the budget. Determining the priority of the proposal requires a long discussion. The Provincial Government of East Java through the Department of Public Works of Highways has an important role in the process of handling provincial roads. Budget limitations, both Regular APBD funds and special allocation funds and other funds, create a distinct challenge for road administrators in determining an effective and optimal road management program. Based on previous research studies, priority determination of road handling can be carried out using Multi Criteria Analysis (MCA). Priority determination criteria used in this study are technical criteria which include: existing traffic conditions, road stability conditions, degree of saturation, travel speed, and travel time; financial and economic criteria which include: BOK, Time Value, BCR, and NPV. In this study it will be seen based on the results of prioritized maintenance handling found at Link 176 Kediri - Blitar City Boundary for LHR technical criteria has a difference in value of 3,190 cur/hour, with an average road condition of 27.12%, difference in degree of saturation of 0.346, the difference in travel speed is 3.409 km/hour, the difference in travel time is 3.661 minutes and for economic criteria BOK has a difference in value of Rp. 8,662,656,168, the difference in the BCR value is 0.60 and the difference in the NPV value is -Rp. 8,382,143,904.

IMPROVEMENT OF RURAL TOURISM IN THE AREA OF BOSNIA AND HERZEGOVINA USING MULTI-CRITERIA ANALYSIS

The aim of the study was to evaluate rural households from five different regions of Bosnia and Herzegovina based on predetermined economic, ecological, and sociological criteria, using assessments from five expert professionals in the field. The study employed the fuzzy multi-criteria decision-making method called TOPSIS to ensure research accuracy. The results indicated that the rural household “Radoja” received the highest rating, which could serve as a solid foundation for future rural tourism development in Bosnia and Herzegovina. Based on the obtained results, it is possible to conduct future research in other regions of the country, providing appropriate guidelines for the development of rural tourism in Bosnia and Herzegovina.

SUSTAINABLE DESIGN EVALUATION – INTEGRATION OF SUSTAINABILITY IN PRODUCT DEVELOPMENT PROCESSES

AbstractTo develop sustainable products, product developers must be able to incorporate sustainability into individual decision processes during product development. In doing so, they are faced with the conflicting demands of time and cost pressure and the growing complexity caused by the many requirements and (sustainability) criteria.The Sustainable Design Evaluation, which is presented in this publication, is a method to enable product developers to estimate the impact of their product-related decisions along the three dimensions of sustainability across all phases of the product life cycle. The core of the Sustainable Design Evaluation is a two-stage assessment technique enabling a relative and comparable quantification of ecological, economic, and social criteria. Furthermore, an aggregation scheme for those criteria is introduced. Based on the two-stage assessment technique and the system of aggregation, the results of the Sustainable Design Evaluation can be displayed clearly and interpreted easily by product developers to assess the impacts of their product-related decisions.Thus, in contrast to existing methods, the SDE combines ease of use and interpretation with a sufficiently holistic sustainability assessment.

Cleaner production of metal-organic framework MIL-101(Cr) for toluene adsorption

Metal-Organic Frameworks (MOFs) are a kind of materials with different environmental applications. However, in a sustainable approach, the production must be analyzed from economic, technical, and environmental standpoints. The aim of this study is focused on obtaining a cleaner production of MIL-101(Cr). A multi-criteria decision-making method was applied to consider environmental (Life Cycle Assessment methodology), technical (toluene adsorption experiments), and economic (Monte Carlo simulation) criteria. Optimization of the synthesis process resulted in a MIL-101(Cr) with good textural properties, which behaves as a strong adsorbent suitable for toluene capture (43.44 mmol/g adsorption capacity) at low concentrations (∼2 ppm). The environmental analysis results showed significant impacts in Climate Change > Fossil Depletion > Particulate Matter categories due to toxic solvents and metallic salt. Monte Carlo simulation revealed that toxic solvent also provides an extra cost in MIL-101(Cr) synthesis (30–35 %). Moreover, the results revealed that the cleaner MIL-101(Cr) synthesis presented 64 % minor environmental impact and is 34 % more economical than a conventional MOF synthesis. This research is a step toward a more comprehensive method for synthesizing MOFs for adsorption applications by combining technical, economic, and environmental perspectives.

Bi-objective Synthesis of CCUS System Considering Inherent Safety and Economic Criteria

Bi-objective Synthesis of CCUS System Considering Inherent Safety and Economic Criteria

Regional Infrastructure Planning Support Methodology for Public and Private Electrified Transport: A Mountain Case Study

The European Union has seen a strong growth of electric passenger vehicles over the last decade. The steady increase in the number of electric vehicles requires a thorough examination of the current infrastructure and their future development, which are critical to the continuous market growth of this technology. The underdeveloped charging infrastructure is identified as one of the main barriers, next to the purchase price of electric vehicles. Thus, the infrastructure (supply side) and the vehicles (demand side) must coevolve and consider not only the quantitative balance between EVs and charging stations but the interlinkages with social, technical, and economic criteria for the overall system development. In this context, the methods presented in this paper address regional specificities when developing an integrated network of charging infrastructure for private and public passengers transport in an alpine region. The results of the application of the methodology to a mountainous area present the potential for replicability and highlight the importance of considering regional characteristics and of stakeholder involvement.

Challenges and Solutions of Hydrogen Fuel Cells in Transportation Systems: A Review and Prospects

Conventional transportation systems are facing many challenges related to reducing fuel consumption, noise, and pollutants to satisfy rising environmental and economic criteria. These requirements have prompted many researchers and manufacturers in the transportation sector to look for cleaner, more efficient, and more sustainable alternatives. Powertrains based on fuel cell systems could partially or completely replace their conventional counterparts used in all modes of transport, starting from small ones, such as scooters, to large mechanisms such as commercial airplanes. Since hydrogen fuel cells (HFCs) emit only water and heat as byproducts and have higher energy conversion efficiency in comparison with other conventional systems, it has become tempting for many scholars to explore their potential for resolving the environmental and economic concerns associated with the transportation sector. This paper thoroughly reviews the principles and applications of fuel cell systems for the main transportation schemes, including scooters, bicycles, motorcycles, cars, buses, trains, and aerial vehicles. The review showed that fuel cells would soon become the powertrain of choice for most modes of transportation. For commercial long-rage airplanes, however, employing fuel cells will be limited due to the replacement of the axillary power unit (APU) in the foreseeable future. Using fuel cells to propel such large airplanes would necessitate redesigning the airplane structure to accommodate the required hydrogen tanks, which could take a bit more time.

Intuitionistic fuzzy EM-SWARA-TOPSIS approach based on new distance measure to assess the medical waste treatment techniques

Due to the potential harm to public health as well as the environment, medical waste treatment have emerged as a critical concern, especially in developing nations. The selection of a suitable medical waste treatment technique (MWTT) is now characterized as a critical multi-criteria decision-making (MCDM) problem because of the incorporation of several competing criteria. This study provides a hybrid MCDM technique for assessing MWTTs concerning social, environmental, economic, and technical criteria in an intuitionistic fuzzy environment. The intuitionistic fuzzy set (IFS) is a potent tool for expressing ambiguous and vague information efficiently and has proven effective for MCDM problems. In IFS environment a new distance measure and an entropy measure (EM) are introduced by employing the generalized Csiszar f-divergence measure, which are further used to construct the MCDM algorithm. The introduced entropy measure is used to examine the objective weights of criteria, and the distance measure is employed to construct the technique for order performance by similarity to ideal solution (TOPSIS) for the assessment of the alternatives. Furthermore, the significance of the criteria for the proposed MCDM technique is evaluated by integrated weights (combining objective and subjective weights). The Stepwise Weight Assessment Ratio Analysis (SWARA) technique is used to obtain the subjective weights for criteria. Thus, a hybrid MCDM technique, namely IF-EM-SWARA-TOPSIS, is developed. To exhibit the effectiveness and applicability of the suggested framework, a MWTT selection problem in Indian context is depicted. The comparative study and sensitivity assessment are conducted to show the sustainability and stability of the proposed IF-EM-SWARA-TOPSIS technique for ranking the preference order of the MWTTs. Moreover, the practical implications of the proposed method are discussed.

Оцінка перспективності діючих вуглевидобувних підприємств

A new methodology for ranking coal mines by the integral coefficient of prospects has been developed. Unlike the known ones, the developed methodology uses a system of volumetric, technological, financial, economic, safety, environmental and social criteria for the functioning of coal industry enterprises that are accessible to the general public. These criteria have been brought to a comparable form. The methodology also takes into account the degree of importance of each criterion in terms of its impact on the technical and economic level of the mine. The system of criteria for the prospects of coal mining enterprises includes the following: installed production capacity of mines, coal production volumes, coal production volumes using new technologies, the cost of coal products, the category of mines by sudden coal and gas emissions, the number of employees and the number of residents of the community where the mine is located, and methane emissions. Mine ratings were calculated to identify unpromising mines that will be considered for further operation or closure. The calculations took into account the WTO requirements for the prospects of coal mining enterprises, as well as the consequences of military operations in Ukraine. The mines were analyzed for two areas of coal product use, namely for energy and coke production. The developed methodology allowed us to form a list of promising coal mining enterprises for steam and coking coal production. The research results provide an opportunity to make managerial decisions on further operation or closure of unpromising coal mining enterprises when developing forecasts of coal fuel supply for thermal power and the country's economy as a whole. The decision on the feasibility of further operation will be made for mines of the lower group. Keywords: coal industry, methodology, ranking, criteria, perspective.

Prioritizing healthcare waste disposal methods considering environmental health using an enhanced multi-criteria decision-making method

ABSTRACT The Healthcare Waste Disposal Method Selection (HCWDMS) is a complicated problem due to multiple and often contradictory criteria with different importance degrees. Thus, decision-makers are restored to multi-criteria decision-making (MCDM) methods to prioritize and select the best HCW disposal methods. This study introduces an enhanced MCDM method to deal with the HCWDMS problem. To address the problem, a comprehensive list of criteria and HCW disposal methods are identified. All the criteria are categorized into four main criteria, and Fuzzy Analysis Hierarchy Process is used to determine the weights of considered criteria and sub-criteria. The study results show that environmental, economic, technical, and social criteria are the most important in selecting disposal methods, respectively. Moreover, the sub-criteria of ‘Health Risk’, ‘Release with health effects’, and ‘Capital cost’ have the highest importance, respectively. Additionally, the methods of ‘Microwave’, ‘Sterilization by autoclave’, and ‘Reverse polymerization’ have the highest priority, respectively.

Feasibility study on the integration of residential PV‐battery systems in system peak load shaving: A case study in Iran

AbstractThis paper investigates the impact of residential photovoltaic (PV) battery systems in a real test system with the goal of system peak load shaving. In order to encourage residential investors, a levelised feed‐in tariff (LFiT) scheme is introduced. Accordingly, two proposed cases and relevant suggestions are presented to reach a better performance. The profitability of the project is apprised via several economic criteria such as net present value, simple and discount payback period years (PBY and DPBY), internal rate of return (IRR), benefit to cost ratio, net cash flow, and levelised cost of energy. Moreover, different levels of peak shaving subject to customers’ participation and the size of the PV‐battery system are also obtained. An actual test system regarding 1‐year recorded data is employed to elevate the precision of results. Obtained results demonstrate that in the current situation in Iran, the PBY is about 5.83 years and the IRR is about 0.43. Meanwhile, the ratio of the LFiT should be about 3.5 to reach the same result as the current circumstances. Finally, a sensitivity analysis on systems’ parameters is performed to identify the impact of these parameters on economic indices.

Modeling the time-varying dynamic term structure of interest rates

We propose a new dynamic Nelson–Siegel yield curve model in which two time-varying factor-specific decay parameters govern the slope and curvature factor loadings, and the factor shock variance–covariance (SV) follows a stochastic inverse Wishart process. The proposed model is compared with simpler specifications in terms of statistical and economic criteria to demonstrate the importance of jointly incorporating time-varying factor loadings and SV. We examine the out-of-sample yield curve density forecasting performance for statistical evaluation. The utility gain from the bond portfolio optimization of a Bayesian risk-averse investor measures the model’s economic value. Our out-of-sample experiment using United States monthly yield curve data indicates that the time-varying factor loadings and SV accommodate gradual structural changes in the yield curve dynamics around an unconventional monetary policy period, thereby improving the predictive accuracy and utility gain.

Implementation Strategies for Sustainable Vehicle Fleet Management

Abstract Research purpose. Against the backdrop of climate change, pressure is growing in the transport sector to reduce CO2 emissions. Numerous companies are therefore setting specific targets to curb the CO2 emissions of their own vehicle fleets. As a rule, this requires the replacement of combustion vehicles by vehicles with alternative drives. In addition to the selection of suitable technologies, economic aspects play a prominent role in this transformation process. Based on a practical case study, potential implementation strategies for achieving a specific CO2 target are to be examined for a parcel service provider. The focus here is on a fleet of diesel combustion vehicles from the small van class with a permissible total weight of fewer than 3.5 tons, which are to be replaced by vehicles with electric drive (BEV) in order to achieve a specific CO2-savings target. The research objective can be easily extended if one considers, on the one hand, that climate protection cannot be limited to individual countries but has to take place on a global level and, on the other hand, that sustainable strategic planning of vehicle fleets also concerns other vehicle segments, such as company cars for individual transport or trucks with higher permissible gross weights. Design / Methodology / Approach. In the first step, framework conditions and criteria are defined that are needed for an evaluation of the implementation strategies. In the second step, a practical case study is constructed. In the third step, different scenarios and strategies for the conversion of the vehicle fleet are designed in order to achieve the set CO2-emission targets. In the last step, the economic and ecological effects of the different strategies and scenarios are measured and analysed with the help of the calculation tool "DIPO-tool", which was developed at the Ludwigshafen University of Business and Society LUBS for research and teaching purposes. To evaluate sustainability, in addition to the established metrics for Tank-to-Wheel (TtW) and Well-to-Wheel (WtW), a holistic life cycle approach is implemented that takes into account emissions during vehicle production. Findings. Against the backdrop of expected further technological development and numerous parameters with a considerable leverage effect on economic and ecological evaluation criteria, it seems advisable from the point of view of sustainability to use alternative drives as soon as possible. From the point of view of economic efficiency, a more differentiated picture emerges depending on the framework conditions, e.g., subsidies. Originality / Value / Practical implications. The originality of the approach lies in the application of a practical case study and the attempt to reduce the complexity of the decision problem by using an Excel-based calculation tool. The value of the study lies in the realisation that, due to the complexity, a simple optimisation approach does not seem viable but rather the evaluation and analysis of different scenarios. The practical impact can be described in the sense that the used DIPO-tool can provide effective support for sustainable implementation strategies for vehicle fleets.

Rancangan Kriteria Sustainability untuk Evaluasi Strategic Supplier di Industri Otomotif X dengan Metode QFD

The strategic supplier evaluation process is a decision-making problem that has many criteria and objectives related to both qualitative and quantitative factors. In the strategic supplier evaluation process, the Quality Function Deployment (QFD) method can translate issues of critical stakeholder needs, starting from conceptual needs into several strategic supplier evaluation criteria that can be used as a reference. One of the most important pieces of information is that by using the QFD method, the weight of the evaluation criteria is derived from the ranking of the importance of stakeholder needs together with the weight of the relationship between stakeholder requirements and evaluation criteria. According to the results of the literature study, most previous studies used economic criteria with a single stakeholder. This research will use sustainability criteria with multi-stakeholders. This research will design the selection of sustainability criteria for evaluating strategic suppliers for the PT X automotive industry in Indonesia using the QFD method. The results of the second House of Quality (HOQ) from QFD, are twenty sustainability criteria for evaluating strategic suppliers for the automotive industry.

Selection of Flagship Species and Their Use as Umbrellas in Bird Conservation: A Case Study in Lishui, Zhejiang Province, China.

The concept of flagship species is widely used in conservation biology. Flagship birds play a key role in raising conservation funds, increasing awareness of biodiversity conservation, and maintaining ecosystem services. This study selected flagship bird species in Lishui, Zhejiang Province, China, and assessed their conservation effectiveness and ability to serve as umbrella species. A regional bird survey program from 2019-2022 recorded 361 bird species in Lishui. This study constructed a framework of flagship species selection based on social, ecological, economic, and cultural criteria. The analytic hierarchy process-entropy weight method (AHP-EM) was used to rank the score of 361 bird species, and the MaxEnt model was used to analyze the suitable distribution areas of these species. Finally, 10 species, which covered the distribution sites of all 361 bird species, were selected as the flagship species of Lishui. The distribution areas covered all the nature reserves and the priority areas of biodiversity of Lishui, in which these 10 species can also serve as umbrella species to protect local biodiversity. The methodology and ideas in this study could provide insights into the application of conservation concepts at the local level, as well as suggest possible recommendations for local governments to select flagship species for conservation.

A multi-criteria multidimensional model for optimal selection of rural water supply systems

Abstract Water supply is a crucial concern for planners across all countries, especially in rural communities. This paper proposes a multidimensional approach to examining the effective criteria for water supply projects in rural areas of Iran. The study compares alternative methods of project implementation and employs three multi-criteria decision-making (MCDM) methods: analytical hierarchy process (AHP), Fuzzy-AHP, and technique for order preference by similarity to ideal solution (TOPSIS) to prioritize criteria, sub-criteria, and alternatives. The results indicate that, among the five options analyzed, diverting water from the river and constructing temporary storage dams are the highest priorities, while pipeline branching to the nearby city or village is given the lowest priority. The study reveals that environmental and economic criteria are more critical than social-security and technical-management criteria, while negative environmental impacts and the possibility of risk-taking by subversive agents are the most important among the 14 sub-criteria studied.

A Study Using the Hybrid Fuzzy AHP&TOPSIS Method in the Conversion of a LEED-Certified Education Building into a Nearly Zero-Energy Building in a Cold Climate

In cold climate regions, it is essential to design and manufacture energy-efficient buildings for both economic benefits and the reduction of environmental effects by controlling energy consumption. This study aimed to increase the cost-effective energy performance and approach the nearly zero energy building (nZEB) by taking the leadership in energy and environmental design (LEED) in the cold climate region of Turkey as a model. The results of single and mixed scenarios that increase energy efficiency were determined by making energy modelling of the building. By applying single and mixed energy efficiency scenarios, a maximum saving of 85.60 % per year in terms of primary energy, an improvement of 83.6 % in terms of global costs and a reduction of 86.4 % in CO2 emissions were obtained compared to the reference building. The payback period of the scenarios is between 3.8 years and 14.53 years. The most suitable single and mixed scenario was determined by a systematic hybrid model, in which the fuzzy analytical hierarchy process (FAHP) and technique for order of preference by similarity to ideal solution (TOPSIS) methods among multi-criteria decision-making methods are used together. The results showed that economic criteria were decisive in determining the most suitable scenario for cold climate regions. The results of this study revealed that there can be a realistic decision-support model for the creation of energy-efficient buildings for countries without the need for foreign certification.

Impact of Waste as a Substrate on Biomass Formation, and Optimization of Spent Microbial Biomass Re-Use by Sustainable Metabolic Engineering

Biomass residue and waste stream bioconversion is a key pillar for successful transition toward sustainable bioeconomy. Spent microbial biomass (SMB) is a unique type of nutrient-rich residue generated from fermentation. This study addresses the waste–SMB–substrate cycle in fermentation. Data from a range of published fermentation processes using waste and non-waste substrates are analyzed for a variety of fermentation products including alcohols and biofuels, amino acids, polymers (PHA), and organic acids. On average, fermentation of waste substrates produces similar, or up to two–three times higher, amounts of SMB compared to purified substrates. SMB production from waste substrates is further illustrated with data from PHA production. The amino acid composition of SMB from 6 industrially relevant microorganisms is compared and shows relatively low variety (2–8%). The return of SMB as a (co-)substrate in fermentation is then considered by building upon the novel concept of sustainable metabolic engineering (SME). SME incorporates economic, environmental, and social sustainability criteria in its optimization algorithm to select microbial strain designs resulting in the most sustainable products. An example of SME application for SMB amino acid re-use by engineered Escherichia coli is demonstrated and discussed. A design with dual production of succinate and ethanol was found to be the most sustainable.