Energy Efficiency Sector Research Articles

Building a robust international carbon crediting framework: insights from Indonesia’s Joint Crediting Mechanism

Abstract This research explores the Joint Crediting Mechanism (JCM) implementation and effectiveness in Indonesia, a program adopted by Japan for carbon emissions reduction and climate change mitigation. Using a quantitative case study methodology, we combine primary and secondary resources to gain insights into the mechanism’s impact on low-carbon development. Findings reveal challenges in government commitment to green energy promotion and financial losses in the solar power sector. Future agreements must consider past implementation and develop a clear framework for Internationally Transferred Mitigation Outcomes (ITMOs) to yield mutual benefits. The JCM has implemented 50 industrial projects in Indonesia, primarily in renewable energy and energy efficiency sectors. It stands out as a leading pilot mechanism under Article 6.2 of the Paris Agreement and has reached full implementation, involving the collaboration of host and partner countries in line with international standards. Various funding models support JCM projects, but while some achieve impressive emissions reductions, the overall impact on Indonesia’s emissions remains relatively modest, emphasizing the need for more comprehensive strategies at the national level. The paper also compares the JCM with other carbon crediting mechanisms, highlighting differences and similarities. Challenges in constructing international carbon crediting mechanisms in Indonesia are discussed, and lessons learned from the JCM are outlined, offering valuable insights for the development of a global carbon crediting framework.

Do green economy stocks matter for the carbon and energy markets? Evidence of connectedness effects and hedging strategies

PurposeWe phrase our analysis around the connectedness effects and portfolio allocation in the “Carbon-Energy-Green economy” system.Design/methodology/approachThis paper utilizes the TVP-VAR method provided by Antonakakis et al. (2020) and Chatziantoniou et al. (2021), and portfolio back-testing models, including bivariate portfolios and multivariate portfolios.FindingsFirstly, the connectedness within the “Carbon-Energy-Green economy” system is strong, and is mainly driven by short-term (weekly) connectedness. Notably, the COVID-19 pandemic leads to a vertical increase in the connectedness of this system. Secondly, in the “Carbon-Energy-Green economy” system, most of the sectors in the green economy stocks tend to be the transmitters of shocks to other markets (particularly the energy efficiency sector), while the carbon and energy markets are always the recipients of shocks from other markets (particularly the crude oil market). Thirdly, Green economy sector stocks have satisfactory hedging effects on the market risk of carbon and energy assets. Interestingly, hedging risks in relatively “dirty” assets requires more green economy stocks than in relatively “clean” assets. Finally, the results indicate that portfolios that include green economy stocks significantly outperform portfolios that do not contain green economy stocks, further demonstrating the crucial role of green economy stocks in this system.Originality/valueUnderstanding the interactions and portfolio allocation in the “Carbon-Energy-Green economy” system, especially identifying the role of the green economy performance in this system, is important for investors and policymakers.

Analysis of business models for delivering energy efficiency through smart energy services to the European commercial rented sector.

In this paper, we perform a comparative analysis of business models used by Energy Service Companies (ESCOs), suitable for the deployment of energy efficiency measures in the commercial rented sector across Europe. These models can effectively contribute to solving the split-incentive issue that arises in the rented building scenario. Some of them are obtained from their "traditional" counterparts, which do not consider the rented scenario, but just a bipartite agreement between an Energy Service Company and its client. The EU Horizon 2020 project SmartSPIN (Smart energy services to solve the SPlit INcentive problem in the commercial rented sector) targets delivery of enhanced energy services for commercial rented sector. These enhanced energy services (a) combine demand management services and energy efficiency interventions, (b) facilitate the adoption of renewables, (c) optimize the balance between demand and supply, (d) alleviate the split incentive issue. The pilot implementation of SmartSPIN is in progress in a business park in Greece, in an office building in Ireland and in two shopping centers in Spain. Key recommendations toward the implementation of such a smart energy service are provided in this paper. They have been obtained from a detailed analysis of ten interviews of key stakeholders of the energy efficiency sector and of the commercial rented sector, along with an analysis of a selection of the most relevant technical literature. This paper argues that the classical shared savings and guaranteed savings ESCOs models may be adapted to the commercial rented sector and used at SmartSPIN's demonstration sites in Spain, Greece and Ireland. The guaranteed savings model appears to be the most appropriate one to use when the building owner is funding the energy efficiency project using own funds or liaising directly with a bank or other finance provider. The validation method for the comparative analysis of business models and selection of the most appropriate one is based on both literature review and consultation of selected stakeholders' (stakeholder value creation framework).

Drivers of Sustainable Green Finance: Country’s Level Risk and Trade Perspective for OECD Countries

In contemporary times, developed economies are adopting environmentally friendly initiatives such as green finance and energy efficiency. However, the factors affecting energy efficiency are widely explored, and green finance remains overlooked in the empirical literature. The present research examines the drivers of sustainable green finance in OECD economies during 2004–2021. The study uses several panel diagnostic tests and validates the mixed integration order of the variables. Still, the long-run equilibrium relationship is valid between financial inclusion, energy efficiency, human capital, foreign trade, composite risk, and green finance. Using panel autoregressive distributed lag model, the study found that financial inclusion, energy efficiency, foreign trade, and composite risk significantly improve green finance in the long run. However, only energy efficiency is effective in the short run. On the other hand, human capital exhibits a significant adverse influence on green finance. The long-run results are robust due to the significant estimates offered by panel dynamic ordinary least square. Besides, there exist one-way and two-way causal associations between variables. The study recommends improving the financial sector performance to enhance financial inclusivity, increase investment in the energy efficiency sector, and encourage trade in environmentally friendly initiatives.

Extreme contributions of conventional investments vis-à-vis Islamic ones to renewables

The growing global awareness of social and environmental issues has led investors to prioritize sustainable investments. This study examines the relationship between ten Islamic and conventional sector indices, which include stocks screened for environmental, social, and governance (ESG) factors, across three energy-related fields: renewable energy, energy efficiency, and oil equipment and services. Using a quantile cross-spectral approach, this research finds a high level of long-term synchronization among all energy-related sectors and indices. However, as markets shift from bearish to bullish, the current relationship between energy-related sectors and Islamic and conventional indices weakens. To support the findings in this research and investigate potential financial implications, this investigation applies a causality-in-quantiles approach. The research in this study shows a bidirectional causal relationship between conventional and Islamic indices, particularly in the energy efficiency sector during bearish market conditions. At lower tails, ESG market indices are found to cause renewable energy products, suggesting a hedging mechanism. The findings of this study assert that investments that do not possess any ESG shortcomings are imperative for effectively bolstering renewable energy companies and fostering opportunities for energy efficiency. These conclusions hold considerable ramifications for energy policymakers as they strive to devise more robust financial mechanisms that can provide substantial support to the burgeoning green sector.

Renewable energy output, energy efficiency and cleaner energy: Evidence from non-parametric approach for emerging seven economies

In the contemporary era, environmental recovery is the primary objective of emerging and industrialized economies, where scholars and policy-makers propose adopting environmentally friendly energy resources such as renewables. Still, economies are paying less attention towards renewable energy consumption. In this sense, the current study aims to investigate the factors influencing renewable energy consumption in the emerging seven economies throughout 1990–2021. Specifically, this study explores the influence of renewable energy (electricity) output and energy efficiency on renewable energy consumption. Economic growth, carbon emissions, and technological innovation are control variables. Using various panel data approaches, the results verified slope coefficient heterogeneity, cross-section dependence, and the existence of the long-run cointegration relationship. Following the asymmetric distribution of data, this study uses novel method of moments quantile regression. The estimated results asserted that renewable energy output, energy efficiency, economic growth, and carbon emissions are the significant factors of renewable energy consumption. However, technological innovation substantially reduces renewable energy consumption. The robustness of the results is validated by bootstrap quantile regression, while the [1] panel Granger causality test confirms the two-way causal nexus between renewable energy consumption and the listed variables. Further, this study suggests increased investment in renewable energy output, the energy efficiency sector, and environmentally related technological innovation to encourage renewable energy consumption.

Bridging the transparency gap in energy efficiency financing by co-designing an integrated assessment framework with involved actors

Energy efficiency investments are subject to various risks and uncertainties, which may affect involved actors’ profitability, and as such, there is a need for developing tools to support their decisions. So far, the developed methodological frameworks that aim at projecting the profitability and risk of such investments present a high technical complexity, and involved actors have difficulties in digesting their results. Consequently, despite their technical and academic value, the existing frameworks cannot achieve the essence of their scope, i.e., to provide concrete implications to capital providers. This article introduces the concept of IRR curve, as an appropriate tool for assessing the economic performance of energy efficiency investments from investors’ point of view. Based on this tool, an integrated framework for profitability assessment of energy efficiency investments is developed, by linking their economic performance and riskiness to investor preferences. The added value of this methodological framework lies in the comparability that it provides between different energy efficiency investments, thereby facilitating investment selection. Utilising this framework, capital providers can be supported in the selection of the country, sector, and project type to invest, while on the other hand, they can better comprehend the risk nature of energy efficiency investments as well as project their profitability and optimal investment holding period. To demonstrate the functionality of the proposed framework, we applied it to the German energy efficiency sector. Our findings provide evidence for the profitability potential of energy efficiency investments and implications about investment holding period.

Determinants of Carbon Emission and Rebound Effect in Asean Countries: Kaya and LMDI Decomposition

All ASEAN countries have achieved extraordinarily high growth rates in their history of economic development. They relied on new energy efficiency technologies to reduce their energy intensity while avoiding the rebound effect. Academics debate told that the rebound effect happened due to the false policies. Hence, the other strategy to stimulate increased energy efficiency in the economic sector is essential for government policy in overcoming resource constraints. This study used the logarithmic-mean Divisia index (LMDI) decomposition and KAYA identity to recognize the determinant factors of carbon emissions and rebound effect changes in ASEAN countries. This study also analyzed the factors behind the shift in ASEAN's carbon emissions and identified the differences between ASEAN member countries. The carbon emissions are decomposed into the population, GDP growth, energy intensity, and carbon intensity. One of the purposes of this paper advocated enhancing efficiency, notably in the energy efficiency sector's plan to encourage government measures. According to the research findings, substantial energy rebounds in Indonesia have revealed that energy efficiency gains in Indonesia may be related to the rebound effect. Indonesia sought to go in this direction, with the national energy policy aiming to lower energy efficiency by 1% each year to stimulate energy savings in all sectors. Keywords: ASEAN, energy efficiency, kaya index, LMDI, rebound effect

Circular economy: A sustainable management strategy for rare earth elements consumption in Australia

Rare earth elements (REEs) are a major constituent of many advanced materials in the information and telecommunication industries, as well as the renewable and energy efficiency sectors. REEs are enablers of speed, performance, durability, and low carbon emissions in these industries. They are required in everyday applications because of their unique chemical and physical properties. Given the rise in environmental concerns and consequent demand for REEs and the limited locations where REEs can be sourced, there is a very high risk of supply disruption.Despite the threat of REE supply risk and its environmental and economic significance, an in-depth examination of the environmental impact and benefits of sustainable consumption of these metals in Australia, as in many other parts of the world, holistically and systematically is lacking, particularly regarding improvement in resource efficiency strategies. Most previous work on REEs has focused either on the politico-economic conflicts over supply and distribution, or the environmental and social impacts of its production and has not holistically examined this problem, as a system.This paper provides a review of REEs' sustainable consumption in Australia. The study highlights Circular Economy (CE) as a scientifically plausible picture of sustainable management strategy to help address the adverse impacts of resource (REEs) shortages while achieving maximum environmental benefits. It provides answers to how sustainable are the current strategies of REEs consumption and how this can be enhanced from a CE perspective. A comprehensive CE framework was developed, followed by an illustrative example of CE as a tool for sustainability management and a practical implementation strategy to close the material loop and improve resource efficiency.

The Effect of Marshallian and Jacobian Knowledge Spillovers on Jobs in the Solar, Wind and Energy Efficiency Sector

The purpose of this paper is to establish if Marshallian and Jacobian knowledge spillovers affect job creation in the green energy sector. Whether these two effects exist is important for the number of jobs created in related fields and jobs pushed away in other sectors. In the analysis, the production efficiency, in terms of jobs and job spillovers, from inventions in solar, wind and energy efficiency, is explored through data envelopment analysis (DEA), based on the Malmquist productivity index, and tobit regression. A panel dataset of American and European firms over the period of 2002–2017 is used. The contribution to the literature is to show the role of the spillovers from the same technology sector (Marshallian externalities), and of the spillovers from more diversified activity (Jacobian externalities). Since previous empirical evidence concerning the innovation effects on the production efficiency is yet weak, the paper attempts to bridge this gap. The empirical findings suggest negative Marshallian externalities, while Jacobian externalities have no statistical impact on the job creation process. The findings are of strategic importance for governments who are developing industrial strategies for renewable energy.

Peranan Keuangan Berkelanjutan Pada Industri Perbankan Dalam Mendukung Sustainable Development Goals

The role of sustainable finance in the Banking Industry at this time was initiated by the Financial Services Authority (OJK) and World Wildlife Funding (WWF) in targeting economic growth so that negative impacts arise from the process of economic development. This encourages environmentalists, companies and national and global governments to trigger a sustainable development that prioritizes harmony in economic, environmental and social aspects. OJK has collaborated with financial institutions to develop a Sustainable Finance Road Map with the aim of describing the conditions to be achieved regarding sustainable finance in Indonesia in the 2015-2024 period for the financial services industry. This initiative was also built to contribute while capturing business opportunities for Indonesia's economic development efforts that are resilient to climate change and contribute directly to efforts to achieve the Sustainable Development Goals (SDGs). The analysis method used is descriptive qualitative where the data collection technique in this study uses online data search. Based on the road map prepared by the OJK, banks in Indonesia have committed to the Sustainable Finance Action Plan (RAKB) to provide credit to creditors who have certification in accordance with the principles of Environmental, Social and Governance (LST) and AMDAL permits (Environmental Impact Analysis ) in the green construction, agriculture, green infrastructure, forestry, renewable energy, recycling and energy efficiency sectors

Multiple criteria decision analysis of public investment options: application to streetlighting renewal projects

The last global economic crisis set fiscal consolidation as one of the most relevant goals of economic policy. At the same time, efforts are necessary to increase economic growth rates, particularly by increasing quantity and quality of public investment. However, the lack of fiscal space and other impediments make these goals hard to attain. On the contrary, in many countries data show negative dynamics of quantity and quality of public investment. In terms of energy efficiency investment, trends are positive. However, the pace of investment significantly underperforms the goals set. We argue that one of the major reasons is the lack of financial innovation and project selection methodology. For this reason, projects have still been mainly financed under traditional procurement models. Surprisingly, most countries do not exploit the advantages of alternative models of financing which do not affect public debt level, significantly reduce fiscal deficits and reduce fiscal risks. This article argues that a multi-criteria approach used at the initial stages of project preparation increases the potential for project realisation and the overall quantity and quality. In order to provide empirical evidence, we use information on energy efficiency streetlighting projects and present a case of a traditional versus alternative financing models. Highlights a need for a systematic approach when selecting optimal financing model is a must; a lack of financial innovation is one of the most critical impediments to a higher level of investment in revenue-generating projects common for the energy efficiency sector; alternative models of financing enable public investment increase without harming the fiscal position; a new methodology for selecting the most preferable model is presented; a policy mix should take more comprehensive stance towards complexity of public investment projects.

Blockchain in Energy Efficiency: Potential Applications and Benefits

Blockchain technology is ready to disrupt nearly every industry and business model, and the energy sector is no exception. Energy businesses across the world have already started exploring the use of blockchain technology in large-scale energy trading systems, peer-to-peer energy trading, project financing, supply chain tracking, and asset management among other applications. Information and Communication Technologies (ICTs) recently started revolutionizing the energy landscape, and now blockchain technology is providing an additional opportunity to make the energy system more intelligent, efficient, transparent, and secure in the longer term. The idea of this paper is to examine more closely the use of blockchain technology for its possible application in the energy efficiency industry and to determine how it could make energy efficiency markets more secure and transparent in the longer term. This paper examines in detail the key benefits and implications of using blockchain in the energy efficiency sector through the presentation and discussion of two case studies as possible blockchain applications—(i) the UK Energy Company Obligation scheme and (ii) the Italian White Certificate Scheme. We have presented how the key issues around trading energy efficiency savings—correctly estimating the savings, data transparency among stakeholders, and inefficient administrative processes—can be solved through the application of a blockchain-based smart contract system. Finally, this paper presents an implementation of a smart contract for trading of energy-saving certificates achieved via execution of smart contract transactions on the Ethereum blockchain.

Effectiveness of Blending Alternative Procurement Models and EU Funding Mechanisms Based on Energy Efficiency Case Study Simulation

Over the past twenty years, many countries have been looking for alternative procurement models in providing public sector energy efficiency (EE) projects because of high public sector debt and budget deficit. These projects have traditionally been procured and financed by the public sector. While the majority of EU funding resources will be realized in more traditional, purely grant-funded procurement models, a new Investment Plan for Europe for the programming period 2014–2020 has focused on supporting higher private sector involvement in infrastructure investments for achieving the EU Strategy 20/20/20 goals. Seeing that the fundamental purpose of investing in infrastructure is investing in providing public services, the involvement of the private sector is only possible through some alternative procurement models. In these initiatives both the public and the private sector retain their own identities and responsibilities, while their co-operation is based on clearly defined divisions of tasks and risks. The main objective of this paper is to assess the effectiveness of blending alternative procurement models with available EU funding mechanisms in EE sector by applying case study simulation. The findings will show the effectiveness of alternative options and the use of blending solutions in EE investments.

(Electricity Industrial Policies in the Middle East and Their Implications for Korean Companies)

Korea Abstract: 본 연구의 목적은 최근 중동국가들이 전력부문에서 추진하고 있는 주요 산업정책과 관련 부문에서의 기업 진출사례를 살펴보고, 이를 바탕으로 국내기업의 전력산업 진출 확대를 위한 정책 방향과 효과적인 지원방안을 제시하는 것이다. 2장에서는 중동지역의 전력 수급 구조 및 특성을 파악하고 이에 따른 중동국 가들의 주요 정책과제를 도출하였다. 전력 수요 측면에서 중동지역은 빠른 인구증가, 1인당 소득증대, 전력 다소비산업 육성 등의 요인으로 다른 지역에 비해 높은 소비 상승률을 유지해왔으며, 전력 보조금에 따른 저렴한 전기요금으로 1인당 전력 소비량이 상대적으로 높게 나타나고 있다. 공급 측면에서는 석유 및 천연가스를 연료로 하는 화력 발전의 비중이 크고, 노후화된 발전 인프라로 인해 송배전 손실량이 많다는 특성을 보였다.3장과 4장에서는 사우디아라비아, UAE 및 이집트 등 3개국을 중심으로 전력부문의 특성과 정책을 심층적으로 분석하고 기업 진출 확대를 위한 시사점을 도출하였다. 3장에서는 발전 인프라 확충 및 발전원 다변화 정책을 중심으로 살펴보았다. 4장에서는 송배전망 현대화 및 스마트 그리드 도입, 에너지소비효율 개선 등 을 위한 정책 및 기업 진출사례를 분석하고 국가별 유망 진출 분야 및 시사점을 도출하였다. 5장에서는 국내기업의 중동지역 전력산업 진출 확대를 위한 지원방안을 제시하였다. English Abstract: The aim of the research is to suggest policy implications for Korean companies that want to expand their business in the Middle Eastern electricity industry, examining industrial policies in the generation, transmission, distribution, and energy efficiency sectors. Chapter 2 touches upon supply and demand of electricity in the region and their characteristics, deriving some policy trends such as diversification of power sources, improvement of the efficiency of electricity consumption and supply, and more involvement of the private sector in electricity businesses. Chapters 3 and 4 deal with sectoral policies in the cases of Saudi Arabia, UAE and Egypt. Policies in the generation sector have been examined in Chapter 3. The three countries are pushing ahead with policies to modernize transmission and distribution lines, introduce smart grid technology and improve the efficiency of energy consumption shown in Chapter 4. Chapter 5 suggests government policies that help Korean companies expand their market in the Middle Eastern electricity industry.

Efficiency and allocation of emission allowances and energy consumption over more sustainable European economies

Abstract Efficient use of energy, reduction in fossil fuel dependence and control of CO2 emissions are all fundamental to development of a sustainable economy. Competitiveness in energy use saves imports of oil and gas, increases gross domestic product and creates new jobs in the renewable energy and energy efficiency sectors. This study identifies the more or less competitive European Union member states in terms of sustainable growth, using Data Envelopment Analysis (DEA) model, and proposes new allocations of country greenhouse gas limits and energy consumption, using a Zero Sum Gains DEA model. The analysis of European countries fills a gap in the existing literature and contributes to the discussion on the 2020–2030 European strategy, proposing an efficiency-based indicator which measures country performance in terms of economic, social and environmental factors: GDP represents the economic factor, population represents the social factor, and emissions, final and renewable energy consumption are the environmental factors. The numerical results show that the initial allocations are inefficient. Applying the modelled reallocation, the most efficient countries are “rewarded” by potential increases in emission and energy consumption, while the least efficient countries must bring about decreases to achieve full efficiency.

Using the private finance initiative for energy efficiency projects at the urban scale

Purpose – The purpose of this paper is to suggest the usage of the project finance (PF) scheme as a suitable mechanism to fund energy efficiency projects at the urban scale and present its advantages and adoption barriers. Design/methodology/approach – A case study is developed to renew the traffic lighting system of an Italian town via replacement of the old lamps with new light-emitting diode (LED) technology. Several partners are involved in the case project to construct a viable PF arrangement. Findings – The case study presents the viability of the proposed PF scheme that provides for acceptable financial returns and bankability. However, it also shows that the need for short concession periods may call for a public contribution to the initial funding to make the project more attractive to private investors. Practical implications – This case study is a useful guideline for governments and promoters to using the PF arrangement to fund energy efficiency investments in urban settings. It helps designing an appropriate PF scheme and understanding the advantages of PF to reduce risk and, consequently, increase the debt leverage and profitability of energy efficiency projects. Originality/value – This paper contributes to bridging the gap about the lack of works addressing the implementation of the PF mechanism in the energy efficiency sector in urban areas. The importance of this paper is also associated with the shortage of traditional public finance faced by many cities that forces to seek for alternate forms of financing.

An agent-based model of transitions in consumer lighting: Policy impacts from the E.U. phase-out of incandescents

To understand the consequences of the E.U. ban on incandescent lamps, an agent-based model is developed in which consumer behaviour regarding purchase of lamps is simulated. Consumers are modelled as having heterogeneous and dynamic preferences on lamps. Development of preferences depends on memory and perceptions, as well as interaction in a social network structure. Lighting technology is modelled to cover many different lamps and technologies. The results indicate that the ban on bulbs will be effective in realising an energy efficient sector. Although the ban on bulbs causes a spike in consumers’ purchases, the consequent benefits of energy saving outweigh the additional costs of purchasing these lamps. Introducing a tax on incandescent lamps would also be effective given a sufficiently high tax level and could be income-neutral with respect to purchasing lamps. A possible penetration of halogen lamps may hamper the transition to lower electricity consumption.

A Round Robin Test for buildings energy performance in Italy

The energy policy in Europe regarding buildings and the energy efficiency sector are regulated by two directives: 2002/91/CE – EPBD and 2006/32/CE – EEESD [1,2]. The CEN has elaborated a standard to revise all European normatives about building energy performance and HVAC plants. The “CEN Umbrella” CEN/TR 15615 [3] includes a new version of EN ISO 13790:2008 [4] and a new standard about heating plant, use and contributions of renewable energy sources. Furthermore, the CEN Standard provides a software version for technicians. In this paper we present a Round Robin Test between a selection of softwares applied to an Italian case study. The selected calculation methodologies, range from research packages to extra-simplified software. Furthermore, the Italian procedure described in UNI TS 11300 [5] has been analyzed and considered as the reference for all other calculation methodologies. The results of the Round Robin Test show the relationship between thoroughness of data input and energy evaluation accurancy. The more the input data is affected by uncertainty, the less precise is the energy efficiency calculation. On the other hand the energy performance of building evaluation accurancy depends on the aim of the simulation: the energy audit, the energy design or the energy labeling (certification).

Additionality and Sustainable Development Issues Regarding CDM Projects in Energy Efficiency Sector

The objective of this discussion paper is to assess additionality and sustainable development issues of energy efficiency CDM projects with an emphasis on the situation in India. In the second half of 2005, almost 100 energy efficiency projects has been submitted for validation and 54 of those projects were analysed with regards to additionality and sustainable development benefits based on Activity Scale (Large Scale & Small Scale), Sector (WHR, DSM, Cement Blending, Service), project start date. 60% are large scale projects and 90% had started before 2005. The results show that additionality and sustainable development are often assessed in a cursory manner and only in few projects additionality was well established. Besides resource conservation, energy efficiency projects do not create much qualitative sustainable development benefits on the whole. Technology transfer occurred rarely and indigenous technology development happened only in 2 projects.