High Environmental Performance Research Articles

Stock market reaction to mandatory sustainability reporting: Does carbon‐intensity and environmental, social, and governance reputation matter?

AbstractWith a sample of 679 listed firms, integrating the event study method and cross‐sectional analysis, we examine the stock market reaction to mandatory sustainability reporting regulation in India. We find that (1) on average, investors react positively to such announcements; (2) the impact varies across different sectors; (3) affected and unaffected firms do not posit significant differences; (4) carbon‐intensive firms are positively impacted; and (5) high environmental, social, and governance (ESG) performance is negatively associated with the event‐induced cumulative abnormal returns (CAR). One standard deviation change in ESG leads to −0.77%, −0.45%, and −0.61% significant changes in [+1,+5], [−5,+5], and [−7,+7] CAR, respectively. The findings align with the value relevance idea and the reputational risk theory but contradict the reservoir of goodwill hypothesis.

Ground Source Heat Pumps in Buildings Revisited and Prospects

A large number of ground-source heat pump (GSHP) systems have been used in residential and commercial buildings throughout the world due to their attractive advantages of high energy and environmental performances. In particular, GSHPs constitute a proven renewable energy technology for space heating and cooling. This paper provides a detailed literature review of the primary aspects of GSHP systems. These include the technological characteristics of HPs and the main types and variations in GSHPs, along with their environmental impact. Other aspects addressed are the integration of GSHPs with other systems, as well as their optimal design and control and energy analysis. The important aspect of the system’s performance is also dealt with through case studies and also the barriers hindering the further adoption of GSHPs in buildings. Two important challenges for the adoption of GSHPs is their cost and environmental efficiency. Studies have shown that GSHPs can reach a >>24% lower environmental impact than air-source HPs, while today’s technology can allow for a payback period for installing a GSHP of <<5 years. Finally, based on the above review, the future challenges and prospects for the successful uptake of GSHPs is discussed. It seems that through the right steps, the wide adoption of GSHPs as an important form of ‘implemented’ renewable energy system can become a reality.

Dynamic linkage between environmental segments of stock markets: the role of global risk factors

ABSTRACT This study evaluates the links between representative indices of companies with high environmental performance and the propensity of such indices to economic and financial shocks. Five indices, representing environmental segments and four global macroeconomic and financial variables, were analyzed over a thirteen-year period, which included various crisis moments, such as the sovereign debt crisis, the COVID-19 pandemic and the onset of the Russia/Ukraine conflict. Using dynamic and nonlinear models, our research reveals statistically significant and consistent relationships between the variables under investigation, particularly during periods of global financial and pandemic crises. The analysis revealed that the VIXCLS is the most influential global risk factor, with certain risk factors being influenced by environmental segments, particularly Alternative Energy. This influence can create conditions conducive to contagion risk and diminish the benefits of portfolio diversification. This study contributes to a deeper understanding of the connection between environmental investments and their vulnerability to significant global events and risks.

Environmental performance of an autonomous laser weeding robot—a case study

PurposeChallenges in sustainable development envisioned in the European Union for the agricultural sector require innovation to raise the efficiency of production and safety of farming processes for farmers and ensure food safety for consumers. One of the key productivity factors in plant production is effective weeding. The WeLASER project aimed to develop a high-power autonomous vehicle with lasers to control weeds. To be sustainable, the invention should have a high environmental performance in the whole life cycle perspective, including its production, use in agriculture, and end-of-life phase. In the publication, a life cycle assessment (LCA) of the WeLASER weeding robot is presented. The aim was to identify weak and strong aspects of the invention in environmental terms and provide suggestions for its improvement.MethodsThe machinery was characterized based on technical data provided by the developers, relevant literature, Ecoinvent 3.8 database, and own calculations. The quantitative assessment of environmental impacts was performed using the Simapro tool. For interpretation Recipe 2016 method (egalitarian perspective) was applied.ResultsThe results show that the energy issue related to autonomous laser-based weeding machine operations is the most challenging. It is related to impacts on climate change indicators and fossil fuel depletion. Production phase is characterized with impacts on human toxicity and is related to extensive application of electronic and electric components in the robot.ConclusionIn comparison with other weeding techniques, the high-power autonomous vehicle with lasers to control weeds shows potential for environmentally efficient use of the machinery in practice. Achieving high performance in the life cycle perspective requires improvements in the design, operational features, and smart application in agricultural practice enhanced through expertise, guidance, and advice.

An all paper based triboelectric nanogenerators with high output performance in extreme environment manufactured by multi-layer papers forming technology

Triboelectric nanogenerators (TENGs) are regarded as a promising technology to drive the development of flexible/wearable electronics and self-powering sensor. Application of cellulose paper as the triboelectric positive materials makes TENGs more environmentally friendly. However, the limited output performance and stability in harsh environments and oxidation and corrosion of the metal electrodes have limited the practical application of cellulose paper based triboelectric nanogenerators (CPTENGs). Here, we have integrated cellulose paper-based triboelectric material and electrode in one sheet by using multi-layer forming technology in paper industry; the upper triboelectric layer shows excellent triboelectric positive performance, hydrophobicity and acid and alkali resistance, while the bottom electrode exhibits promise conductivity. The all CPTENGs can yield a maximum open-circuit voltage (VOC) of 227.1 V, a short-circuit current (ISC) of 6.9 μA. Furthermore, the VOC values of the all CPTENGs increase from 0.02 V to 225.1 V at the load resistance of 100 Ω∼10 GΩ; and a power density of 520 mW·m−2 is also obtained at a load resistance of 30 MΩ. Moreover, the VOC of CPTENGs not only retains up to 78 % of its initial value at a high relative humidity of 90 %, but also almost maintains unchanged in a wide range of the pH environment (pH = 1∼13). More importantly, the CPTENGs can be readily matched with paper-based zinc supercapacitor (P-ZISC) to act as an all paper based self-charging power system (PSCPS). The PSCPS is capable of driving various miniaturized electronics, such as electronic watch, temperature/humidity indicator, demonstrating its potential application in a sustainable power source for portable and green electronics.

Partial Exsolution Enables Superior Bifunctionality of Ir@SrIrO3 for Acidic Overall Water Splitting.

The pursuit of efficient and durable bifunctional electrocatalysts for overall water splitting in acidic media is highly desirable, albeit challenging. SrIrO3 based perovskites are electrochemically active for oxygen evolution reaction (OER), however, their inert activities toward hydrogen evolution reaction (HER) severely restrict the practical implementation in overall water splitting. Herein, an Ir@SrIrO3 heterojunction is newly developed by a partial exsolution approach, ensuring strong metal-support interaction for OER and HER. Notably, the Ir@SrIrO3-175 electrocatalyst, prepared by annealing SrIrO3 in 5% H2 atmosphere at 175 °C, delivers ultralow overpotentials of 229 mV at 10 mAcm-2 for OER and 28 mV at 10 mAcm-2 for HER, surpassing most recently reported bifunctional electrocatalysts. Moreover, the water electrolyzer using the Ir@SrIrO3-175 bifunctional electrocatalyst demonstrates the potential application prospect with high electrochemical performance and excellent durability in acidic environment. Theoretical calculations unveil that constructing Ir@SrIrO3 heterojunction regulates interfacial electronic redistribution, ultimately enabling low energy barriers for both OER and HER.

Моделирование суверенного кредитного риска с учетом экологической эффективности

This study contributes to the evaluation of the role of the eco-efficiency factor in explaining sovereign credit risk. The purpose of the study is to develop a model of sovereign credit risk taking into account the environmental efficiency factor. The sample includes the following countries: Argentina, Belgium, China, China, Egypt, Germany, Greece, Nigeria, Pakistan, Portugal, Spain. 58 % of the world’s countries are categorized as investment grade, indicating that more than half of the countries have high and very high solvency. Using the multiple regression method, the factors affecting the sovereign credit rating are identified: GDP per capita, annual change in inflation, international reserves, private sector credit, total public debt, and environmental performance. The results show a strong positive relationship between credit rating and GDP per capita, private sector lending volume, indicating that countries with better GDP per capita have lower credit risk. To prove the relationship between environmental and credit risk, two multiple regression models were constructed: without and with the environmental factor. The results show that including the environmental factor in modeling a country’s credit rating is appropriate because it improves the quality of the model. According to the two comparison criteria, the model including the environmental factor had better results; the coefficient of determination was larger and the approximation error was smaller. Countries have different environmental situations and different degrees of environmental policy management. There is a relationship between environmental and credit risk of countries, but the environmental situation of a country is not the only determinant factor affecting credit risk. If a country has a high environmental performance index value, it may have an average sovereign rating and vice versa. The scientific usefulness of the study lies in the fact that the constructed model can be used by investors, creditors, rating objects to calculate their own values of sovereign credit ratings.

MeshID: Few-Shot Finger Gesture Based User Identification Using Orthogonal Signal Interference.

Radio frequency (RF) technology has been applied to enable advanced behavioral sensing in human-computer interaction. Due to its device-free sensing capability and wide availability on Internet of Things devices. Enabling finger gesture-based identification with high accuracy can be challenging due to low RF signal resolution and user heterogeneity. In this paper, we propose MeshID, a novel RF-based user identification scheme that enables identification through finger gestures with high accuracy. MeshID significantly improves the sensing sensitivity on RF signal interference, and hence is able to extract subtle individual biometrics through velocity distribution profiling (VDP) features from less-distinct finger motions such as drawing digits in the air. We design an efficient few-shot model retraining framework based on first component reverse module, achieving high model robustness and performance in a complex environment. We conduct comprehensive real-world experiments and the results show that MeshID achieves a user identification accuracy of 95.17% on average in three indoor environments. The results indicate that MeshID outperforms the state-of-the-art in identification performance with less cost.

Green bonds as the driving force of environmental performance – the European perspective

This paper identifies regions with high environmental performance by assessing the size of green bond issuance in European countries from a cause-and-effect perspective. Cluster analysis and descriptive statistics were used to meet this research objective. The research subject was the size of green bond issuance, understood as the driving force for the green economy in European countries. The main findings of the research show a strong correlation between the size of green bond issuance and environmental performance. Due to limited access to source data, the analysis of green sources of financing was restricted only to the size of green bond issuance, excluding other funding sources. Identifying the regions with high environmental performance and high value of green bond issuance will allow for an effective support plan for pro-ecological actions by using soft and complex tools of green policy, bearing in mind existing limitations, too. This approach determines groups of countries that share similar features, i.e., the ones that take advantage of green projects financed by the issuance of green bonds and simultaneously have a high environmental performance index.

Spatio-temporal pattern assessment of China's environmental performance and its spatial drivers: evidence from city-level data over 2003-2019.

A comprehensive assessment of China's environmental performance (EP) and an investigation into its driving factors are essential prerequisites for advancing environmental protection efforts. However, existing studies have often exhibited a one-sided EP evaluation approach and lacked a systematic perspective. Consequently, this study has adopted a holistic approach by integrating environmental protection and pollution within the same theoretical framework. We have employed the "P-S-R" model to comprehensively assess the EP of 272 cities from 2003 to 2019. Concurrently, we have applied the spatial Durbin model to analyze EP drivers utilizing three spatial matrices. The findings of this study reveal several vital insights. Firstly, the mean EP value for China is 0.1138, indicating a low level, but it demonstrates a consistent upward trend over the years. When comparing cities with high EP, they are predominantly situated in northern China, northeastern China, and certain areas along the southeastern coast. Secondly, from a spatial perspective, the directionality of EP exhibits a trend from "northeast to the southwest," with the center of gravity located in and around Zhumadian, Henan Province, gradually shifting towards the northeast. The majority of cities fall within the H-H and L-L clusters, displaying significant positive spatial autocorrelation effects. Thirdly, EP drivers encompass a wide range of factors, including economic development, urbanization, resource dependence, industrial structure, infrastructure construction, environmental regulation, government regulatory capacity, scientific and technological innovation, and foreign direct investment. These drivers also exhibit significant spillover effects. Finally, the characteristics of EP development vary between resource-based cities (RBCs) and non-resource-based cities (non-RBCs), as well as among the eastern, central, and western regions. Moreover, there are disparities in the driving factors' direct, indirect, and overall effects. Consequently, we must propose tailored strategies and recommendations to enhance EP, considering the heterogeneous effects of influencing factors across different city types, regions, and collaboration approaches.

Easy-regeneration Mn-doped ZIF-67 derivate adsorbent with ultra-high adsorption capacity for tetracycline hydrochloride in wastewater

Adsorption capacity and reusability are critical to the practical applications of metal–organic framework (MOF)-based adsorbents. In this work, an easy-regeneration ZIF-67 derivate adsorbent (Mn-ZIF-400) was synthesized by calcining the manganese-modified MOF ZIF-67 (Mn-ZIF-67) precursor at 400 °C in air for the first time. Mn-ZIF-400 reveals an ultra-high adsorption capacity for tetracycline hydrochloride (TCH) (qmax = 1191.5 mg⋅g−1 at 308 K at pH = 4) in a wide pH range (pH = 3–10) owing to its great surface area (816.2 m2⋅g−1), surface polyvalent metal ions (Co2+/Co3+, Mn2+/ Mn 3+/ Mn4+), abundant surface oxygen species (including –COOH, –OH etc.) and π-electrons from benzene-ring. The adsorption mechanism of TCH on Mn-ZIF-400 belongs to the monolayer chemisorption mainly by π-π conjugation/π-cation interactions, hydrogen/coordination bonding, and pore filling. It also can maintain high adsorption performance in an actual aqueous environment. More importantly, Mn-ZIF-400 showed enhanced water stability and reusability after modification and no obvious loss in adsorption capacity in four recycles via simple water washing, being a promising adsorbent for antibiotic elimination.

Climate‐related performance and stock price crash risk

AbstractWe examine how environmental performance affects future stock price crash risk. Previous literature shows that legitimacy threats, stemming from environmental risk, lead firms to be particularly sensitive about environmental disclosure and performance. However, we hypothesise and find that under specific conditions, relating to lower operating performance, firms that have higher environmental performance also have higher future stock price crash risk. Further analysis shows that such firms may also have lower readability and more confident tone in their 10‐K annual reports. We attribute these findings to impression management utilising environmental performance along with disclosure misdirection practices, where managers of firms with negative news, attempt in some cases to draw the attention of the users of financial reports by obfuscating annual reports for bad news hoarding purposes. Even though in the current year such practices may have a negative effect for stock price crash risk, future stock price crash risk increases due to the dissemination of the negative news in the market. Overall, our results show that environmental disclosure may be used, under certain conditions, as a tool for impression management, which along with financial reporting distraction practices, leads to higher future stock price crash risk.

Parameter evaluation for a hybrid marine system combining solid oxide fuel cells and overexpanded steam-injected gas turbine

The article focuses on the development of decarbonized marine power systems, consisting of solid oxide fuel cells (SOFC) and gas turbines (GT), aiming to provide high economic and environmental performance. Currently, the potential of such systems is not fully realized due to issues related to the insufficient reliability and durability of the fuel cells themselves, as well as suboptimal heat utilization processes in the gas turbine section of the power plant. In contrast to previous research, this study demonstrates the prospects of using the steam-injected gas turbine (STIG) cycle and overexpanded turbine to improve the heat recovery conditions of exhaust gasses from fuel cells, enhance the efficiency of the power system, and increase the longevity of its key components. To achieve this, a corresponding mathematical model was developed, and optimization calculations for the proposed system cycle were conducted. Adopting the proposed cycle with a steam-injected gas turbine resulted in a 4.4 % increase in efficiency compared to traditional schemes. Such a system could be utilized in the design of advanced marine power system for the next generation.

THE EU GREEN PUBLIC ROCUREMENT AS A POLICY TOOL TO IMPLEMENT THE CIRCULAR ECONOMY

The transition to a circular economy is essential for environmental sustainability and serves as a strategic approach for achieving long-term economic stability, social equity, and resilience. Green public procurement (GPP) is closely intertwined with the concept of the circular economy, and both play a pivotal role in influencing sustainable development. The EU provides guidelines for GPP that align with circular economy principles, encouraging public authorities to opt for products and services with lower environmental impacts and higher resource efficiency. GPP establishes high environmental performance standards, reduces waste, enhances resource efficiency, and promotes the reuse and recycling of materials. The implementation of GPP offers benefits for the environment, economic growth, and social well-being, but challenges such as consistent application, market readiness, and higher initial costs persist. The research indicates that GPP can make a significant contribution to sustainability objectives and emphasizes the necessity of supportive policies to promote broader adoption of GPP practices. By aligning policy initiatives with sustainable procurement practices, the EU member states aim to foster a more robust, resource-efficient, and environmentally conscious economy. Such a comprehensive approach not only addresses environmental issues but also fuels economic and social progress.

Photovoltaic-driven liquid air energy storage system for combined cooling, heating and power towards zero-energy buildings

Renewable energy and energy storage technologies are expected to promote the goal of net zero-energy buildings. This article presents a new sustainable energy solution using photovoltaic-driven liquid air energy storage (PV-LAES) for achieving the combined cooling, heating and power (CCHP) supply. Liquid air is used to store and generate power to smooth the supply-load fluctuations, and the residual heat from hot oil in the LAES system is used for the cooling and heating supplements. Taking an actual building as the research object, the dynamic PV-LAES system model is built to optimize the power/cooling/heating supplies, and then evaluate the economic and environmental performances. In a single year, the PV-LAES system can produce 523.93 MWh of electricity, 57.75 GJ of cold energy, and 119.24 GJ of heat energy, resulting in an improved round-trip efficiency of 67.05 % and a carbon emission reduction of 368.35 tons. The dynamic payback period is 6.45 years and the cumulative net present value (NPV) reaches 515 k$ throughout the life cycle. Overall, this article provides a new solution using the PV-LAES system to obtain high energy efficiency, good economic benefits, and high environmental performance for future zero-energy buildings.

When in Rome, do as the Romans do: the effect of characteristics of capitalism on environmental performance

PurposeThe purpose of this research is to investigate the effect of characteristics of capitalism on environmental performance.Design/methodology/approachThe authors analyzed a sample of 6,257 companies, based in 55 countries and 8 typologies of capitalism. The independent variables are the characteristics of capitalism, measured through five indicators: cooperation between employees and employers, index of economic freedom, local competition between industries, human development index (HDI) and quality of the governance environment. To measure environmental performance, the authors created an index composed of 20 indicators. Data were analyzed using panel data regression and dynamic panel of the generalized method of moments.FindingsThe results indicate that the characteristics of capitalism can shape the environmental behavior of companies. The authors find that in countries with better cooperation between employees and employers, more economic freedom, and competition between firms, in addition to better HDI and national governance, companies have higher environmental performance. When they are in more developed countries, companies have a greater environmental performance.Practical implicationsManagers must consider the country's characteristics of capitalism when making their environmental decisions and strategies. The findings invite governments to incorporate into their regulations mechanisms to protect other interest groups, not just shareholders.Originality/valueFew studies have examined environmental performance, which is less susceptible to greenwashing. The metric for environmental performance measures the company's concrete effort in relation to environmental issues and not just the disclosure of information. Additionally, the authors examine characteristics of capitalism supported by Varieties of Capitalism, an approach still little explored in the environmental management.

Pesticide-free arable cropping systems: performances, learnings, and technical lock-ins from a French long-term field trial

To ensure regular and high yields, current agriculture is based on intensive use of pesticides and fertilizers, which are detrimental to the environment and human health. Moreover, as pest resistance to pesticides increases, and more and more pesticides are taken off the market, national and European policies are becoming powerful drivers to deliver pesticide-free farming systems. Whereas numerous studies have compared organic versus conventional systems, our study assessed, for the first time, the performances of a pesticide-free arable cropping system (No-Pesticide), using synthetic fertilizers, specifically designed to produce high yields and meet environmental goals. This system was compared with an input-based cropping system designed with the same environmental targets (PHEP: productive with high environmental performances) in an 11-year field trial in France (Paris Basin). Banning pesticides did not result in a significant average yield gap (in GJ.ha−1.year−1 or in kg N.ha−1.year−1) calculated over the crop sequence. Yet, some crops’ yields significantly decreased, due either to pest damages, or to limited nitrogen nutrition. In the No-Pesticide system, the mycotoxin content of cereal grains was lower than the regulatory threshold, and the average wheat protein content was higher than the required standard for baking. Indirect energy consumption, total greenhouse gas emissions, number of technical operations, nitrogen fertilizer amounts, and treatment frequency indexes were significantly lower compared to the PHEP system. Conversely, results showed significantly higher direct energy consumption, direct greenhouse gas emissions, and number of work hours for weed control. We identify highly effective agricultural strategies to avoid pesticide use (e.g., widely diverse and long crop sequence; introduction of hemp) and pinpoint several technical lock-ins hampering steady production in pesticide-free systems. We argue that more experiments should be undertaken to deliver technical knowledge for managing major or orphan species within pesticide-free systems, and to provide supplementary results, including economic and social performances.

The Role of Psychological Factors in Self-Leadership Development an Investigation Among E-Commerce Webcast Streamers

This study explores the development of self-leadership skills among webcast streamers in China's e-commerce industry. We delved into the psychological factors that influence these skills in a unique professional context. This research involved in-depth interviews with 20 webcast streamers from various niches within the Chinese e-commerce sector. Thematic analysis of their insights revealed several key findings. Intrinsic motivation, stemming from a passion for products and live viewer interactions, emerged as a primary driver of self-leadership development among webcast streamers. They use self-control strategies and adaptability to navigate the dynamic e-commerce landscape effectively. Strategies for managing stress and building resilience are essential for sustaining high performance in this challenging environment. This study's significance lies in its contribution to understanding self-leadership dynamics in the evolving digital marketplace. The findings offer valuable insights for webcast streamers, e-commerce businesses, and scholars interested in leadership development. Moreover, this research underscores the importance of considering cultural and contextual factors, emphasizing the need for context-specific approaches in leadership development.

Lean production, green supply chain management and environmental performance: a configurational perspective based on the Portuguese context

Purpose Organizations are faced with increasing pressure to engage in sustainable development. There is an ongoing discussion on how to incorporate green thinking into lean management systems. This study aims to investigate configurations of lean and green supply chain management (GSCM) practices associated with high environmental performance. Design/methodology/approach The study uses survey data from a sample of Portuguese manufacturing firms and apply fuzzy-set qualitative comparative analysis to examine the data. This configurational technique allows to capture the synergetic effect of lean and GSCM practices and identify distinct combinations leading to the outcome of interest. Findings Seven configurations of lean and green practices are associated with high environmental performance. The implementation of lean practices is required in all configurations. Analysis of alternative combinations reveals trade-offs between lean initiatives and environmental goals. Four configurations require low level of implementation of pull production. In one configuration, high environmental performance is achieved with low implementation of statistical process control and without lean employee involvement. Research limitations/implications This study expands the literature on lean management by identifying different strategies to integrate lean and GSCM practices to achieve high environmental performance. Practical implications The findings suggest different strategies to achieve high environmental performance. Managers need to selectively implement lean and green supply chain practices to achieve the desired combinatorial effect, which may require not to implement specific lean practices. Originality/value The study demonstrates the synergetic effects of lean and green practices on environmental performance using a configurational perspective. In addition, it identifies combinations that require a low level of implementation of specific lean practices.

What are the causal conditions that lead to high or low environmental performance? A worldwide assessment

This study focuses on causal conditions that lead to high or low environmental performance (EPI) using fuzzy-set qualitative comparative analysis for 156 countries in 2018. Data for the EPI, economic growth, labor share of GDP, political freedom, the role of women, press freedom, corruption, and urbanization were used. Research findings allow us to conclude that no individual causal condition meets the necessary condition (thresholds) for high or low EPI. Five sufficient configurations for high EPI were found: (i) high GDP per capita is sufficient for high EPI; (ii) highly urbanized countries where corruption is absent; (iii) urbanized countries that protect individual rights and liberties and women's economic opportunities; (iv) high labor share of GDP coupled with the protection of individual freedom and women's economic rights; and (v) countries with high individual and press freedom where corruption is absent. Four sufficient configurations for low EPI were found: (vi) lack of protection of women's economic rights; (vii) lack of press freedom; (viii) low GDP per capita and high corruption rates, and urbanization as a peripheral condition; and (ix) low GDP per capita and high corruption rates and labor as a peripheral condition. Policymakers must acknowledge that there are many paths to improve environmental performance, contingent on the country's initial environmental development level.