Sustainable development - Sustainable business and industry

Title

Reference

Journal of Environmental Planning and Management
DOI: 10.1080/09640568.2011.632677

Author(s)

Doron Lavee

Study type

Peer Review Journal    

Abstract

This study examines the economic viability of relocating polluting industrial factories from densely populated residential areas to designated industrial zones. This solution requires a significant economic investment consisting of relocating and remediating costs. This solution has a direct financial benefit, due to the alternative value of the land on which the factory currently stands, as it can be converted to more attractive uses. In many cases, this direct benefit does not cover the costs, therefore it is not economically feasible to transfer the plant. However, it is possible that relocating a factory in these cases is economically feasible from a national perspective, as the factory's current location may cause a decline in nearby property values, while relocating it may result in an increase in property values. Nevertheless, in these cases, government intervention may be required. This paper presents a case study for such a situation – analysing the case of the Ta'as Magen factory, a severely polluted site located in the heart of Israel's main metropolitan area. This analysis reveals that the indirect benefits of relocating the factory and remediating the site are considerably greater than the direct benefits, and outweigh all required costs.

Policy theme(s)

Environmental economics >> Economic impacts of environmental change
Chemicals >> Management >> Remediation
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

economic efficiency, direct and indirect benefits, remediation

Entry Source:

Shortlisted for Science for Environment Policy News Alert

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http://www.tandfonline.com/doi/abs/10.1080/09640568.2011.632677
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doron@pareto.co.il

Title

Towards assessing the sustainability of European logging operations

Reference

European Journal of Forest Research
Doi: 10.1007/s10342-011-0561-x
EU funded.

Author(s)

Staffan Berg, Janine Fischbach, Franka Brüchert, Mikael Poissonnet, Stefania Pizzirani, Anne Varet and Udo H. Sauter

Study type

Peer Review Journal    

Abstract

The forest-based sector has been at the forefront in operationally implementing the sustainability concept, its associated principles and indicators for sustainable forest management. Several methods have been developed to study environmental impacts of forestry activities, but none of the existing tools address all the dimensions of sustainability along the whole forest wood chain (FWC) in a balanced way. Consequently, the decision was made to develop a tool for sustainability impact assessment (ToSIA), the modelling framework for sustainability impact assessment of FWCs. The objective of the EU Project Eforwood was to develop ToSIA, a decision support tool. Within ToSIA, a FWC is modelled as a number of interconnected processes. For each process, a range of economic, environmental and social indicators and their respective values are calculated, thus representing the three pillars of sustainability. By this method, the multifunctionality of forests can be assessed and supply chains can be compared with respect to sustainability. Sensitivity analysis and scenario techniques can be applied to learn about the effect of expected changes to the structure of the chain, the material flows and the indicator values. In order to provide the tool with information about forest and logging operations, data were collected at two fundamental levels: (1) a regional level with case studies in Scandinavia, Iberia and Baden-Württemberg and (2) a European level with a case study that reflects conditions in the 27 countries of the European Union. This paper describes and details the harvesting and logging processes for the European countries. The results are displayed for each of the three regional case studies as well as aggregated to five principal areas in Europe: Eastern, Northern, Western, Central and Southwest Europe.

Policy theme(s)

Forests >> Forest services >> Forest industries/products
Sustainable consumption and production >> Sustainable production >> Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

Sustainability impact assessment; Harvesting; Logging; Economic; Social; Environmental; Decision support

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Selected for Science for Environment Policy News Alert

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http://www.springerlink.com/content/uhh20q49p4571654/
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Staffan.berg@skogforsk.se

Title

‘Habitat’ Suitability Index Mapping for Industrial Symbiosis Planning

Reference

Journal of Industrial Ecology DOI: 10.1111/j.1530-9290.2011.00438.x

Author(s)

Paul D. Jensen, Lauren Basson, Emma E. Hellawell, Matthew Leach

Study type

Peer Review Journal    

Abstract

By ‘working with the willing’, the National Industrial Symbiosis Programme (NISP) has successfully facilitated industrial symbiosis throughout the United Kingdom and, in the process, delivered significant economic and environmental benefits for both Programme members and the country as a whole. One of the keys to NISP's success is that, unlike failed attempts to plan and construct eco-industrial systems from scratch, the Programme works largely with existing companies who have already settled in, developed, and successfully operate within a given locale. This article argues that existing and mature industrial systems provide the best prospects for identifying opportunities for, and ultimately facilitating, industrial symbiosis. Due to levels of diversification and operational fundamental niches that, in the fullness of time, develop within all industrial systems, industrially mature areas are deemed to be industrial symbiosis ‘conducive environments’. Building on the conservation biology concept of a habitat suitability index, the article presents a methodology for comparing a potential site for eco-industrial development to a known baseline industrial ‘habitat’ already identified as being highly conducive to industrial symbiosis. The suitability index methodology is further developed and applied to a multi-criteria evaluation geographic information system to produce a ‘habitat’ suitability map that allows practitioners to quickly identify potential industrial symbiosis hotspots (the methodology is illustrated for England). The article concludes by providing options for the development of symbiosis suitability indices and how they can be used to support the facilitation of industrial symbiosis and regional resource efficiency.

Policy theme(s)

Sustainable consumption and production >> Sustainable production >> Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

eco-industrial development;geographic information systems (GIS);industrial ecology;industrial ecosystem;South Humber Bank;utilities sharing

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http://onlinelibrary.wiley.com/doi/10.1111/j.15309290.2011.00438.x/abstract

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P.Jensen@surrey.ac.uk

Title

How to use sustainability indicators for tourism planning: The case of rural tourism in Andalusia (Spain)

Reference

Science of The Total Environment
Volumes 412-413, 15 December 2011, Pages 28-45

Author(s)

F.J. Blancas, M. Lozano-Oyola, M. González, F.M. Guerrero, R. Caballero

Study type

Peer Review Journal   

Abstract

This paper proposes an indicators system to analyse the sustainability of tourist activity at rural destinations in countries with a consolidated tourism sector. The proposed system aims at providing tourist managers and policy-makers with information to better understand the transition to sustainability at specific destinations and to encourage them to carry out corresponding policy and management responses. To illustrate how indicators can be quantified, we create a practical guideline on how to use the statistical information available. Likewise, we suggest a method for obtaining sustainability indexes by aggregation that reduces the subjectivity associated with the composite indicator. This procedure is based on the combination of principal component analysis and distance to a reference point.
Together with the definition of sustainable tourism indicators, we explain how to use these systems and sustainability indexes to fulfil three practical uses in tourism sector planning: the comparison and characterisation of destinations, the definition of benchmarking practices, and the quantification of sustainable tourism objectives. Each practical use is illustrated using the case of rural zones in a consolidated destination such as Andalusia.

Policy theme(s)

Sustainable development and policy assessment >> Sustainable economic development >> Sustainable rural development
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

Rural tourism; Indicators system; Composite indicators; Principal component analysis; Distance; Sustainable tourism

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http://www.sciencedirect.com/science/article/pii/S0048969711011004
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fjblaper@upo.es

Title

Industrial symbiosis and the policy instruments of sustainable consumption and production

Reference

Journal of Cleaner Production
Volume 19, Issue 16, November 2011, Pages 1865-1875

Author(s)

Suvi Lehtoranta , Ari Nissinen, Tuomas Mattila, Matti Melanen

Study type

Peer Review Journal

Abstract

Industrial symbioses (ISs) and eco-industrial parks (EIPs) are key concepts of industrial ecology (IE). The aim of ISs and EIPs is to minimise inefficient material and energy use by utilising local by-product and energy flows. Industrial symbioses tend to develop through spontaneous action of economic actors, for gaining of economic benefit, but these systems can be designed and promoted via policy instruments as well. A literature review showed that national programmes for eco-industrial parks can be found in different parts of the world. In the action programmes and other sustainable consumption and production (SCP) policy documents of the EU, on the other hand, industrial symbioses gain less recognition as a path to enhanced sustainable production. In this article, we consider this and also analyse how the evolution and environmental performance of an industrial symbiosis system centred on a Finnish pulp and paper mill have been affected by SCP policy instruments. With regard to the system forming the subject of the case study, and Finnish industrial systems in general, policy instruments have succeeded in reducing emissions but not in systematically encouraging operators toward symbiosis-like activities. All in all, few studies exist on the overall impact of policy instruments promoting design of eco-industrial parks. It is not self-evident that symbiosis-like production systems would be sustainable in every case, as the background assumptions for political promotion of EIPs suggest. We concluded that industrial symbioses should be analysed and developed on a life cycle basis, with documentation of the real environmental benefits due to efficient resource use and decreased emissions in comparison to standalone production. ISs can then bring eco-competitiveness to companies in relation to SCP tools, such as environmental permits, ecolabels, and future product regulation based on the Ecodesign Directive in Europe. Indirect encouragement of symbiosis through land-use regulation and planning, in such a way that material fluxes between companies are possible both in operations and in financial terms, may prove effective. The same holds for waste policies that encourage increased reuse of a company’s waste by other enterprises.

Policy theme(s)

Resource efficiency >> Materials >> Material efficiency
Resource efficiency >> Energy efficiency
Sustainable consumption and production >> Sustainable production >> Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

Industrial ecology; Industrial symbiosis; Eco-industrial park; Sustainable consumption and production; Policy instrument; Finland

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N/A

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http://www.sciencedirect.com/science/article/pii/S0959652611001181
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suvi.lehtoranta@ymparisto.fi

Title

Taxing virgin natural resources: Lessons from aggregates taxation in Europe

Reference

Resources, Conservation and Recycling
Volume 55, Issue 11, September 2011, Pages 911-922

Author(s)

Patrik Söderholm

Study type

Peer Review Journal

Abstract

The objective of this review paper is to analyze the efficiency of environmentally motivated taxes on virgin raw materials. We analyze both the economic–theoretical foundations of virgin natural resource taxation, and the empirical experiences of aggregates taxes i.e., taxes on, for instance, gravel, rock, stone, etc. in three European countries. These include Sweden, Denmark and the United Kingdom. The theoretical analysis indicates that taxing natural resource output or use typically represents a ‘second-best’ policy alternative, which can be used when, for instance, the monitoring of non-point source emissions is difficult or efficient property rights regimes cannot be established. The empirical analysis shows that the European aggregate taxes have assisted in reducing virgin resource use in spite of the relatively low own-price responses. However, generators of recycled materials typically have few incentives to enhance their waste sorting activities in the presence of a tax on virgin materials. Unless additional policies to increase the supply of recycled materials are implemented, supply will not increase much even in the presence of high demand. Finally, although second-best taxes are sometimes motivated by the desire to keep administration costs low, they could come at the cost of improper incentives and of limited policy legitimacy

Policy theme(s)

Resource efficiency >> Materials >> Material efficiency
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry
Waste >> Waste management >> Recycling

Keywords

Virgin natural resources, Environmental taxes, Recycling, Aggregates

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N/A

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http://www.sciencedirect.com/science/article/pii/S0921344911000942
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patrik.soderholm@ltu.se

Title

Using corporate social responsibility benchmarking framework to identify and assess corporate social responsibility trends of real estate companies owning and developing shopping centres

Reference

Journal of Cleaner Production
Volume 19, Issue 13, September 2011, Pages 1486-1493

Author(s)

Idalina Dias Sardinha, Lucas Reijnders and Paula Antunes

Study type

Peer Review Journal

Abstract

Shopping centres that include retail activities have come in for criticism as to their environmental, architectural and social impacts. However, the sector has been applying corporate social responsibility (CSR) practices. In an attempt to identify the best practices regarding CSR and trends therein we developed a CSR benchmarking of companies from the real estate sector owning and developing shopping centres. Based on information from websites, annual, environmental and sustainability reports, and customer services department's information, in 2004 and 2010, a comparative CSR benchmarking was performed on 23 real estate companies with shopping centres based in Europe, China, Australia and the USA. The CRS benchmarking framework focused on reported CSR practices and included categories and sub-categories of evaluation in four domains: (1) external results, (2) internal results, (3) management processes and (4) learning and innovation. The framework was inspired by the sustainability balanced scorecard structure. The United Kingdom real estate sector's companies studied did relatively well when evaluated by the framework used in this study. The highest ranked real estate companies applied sustainable or environmental buildings standards and did show a commitment to transparency and CSR disclosure. The positive evolution of CSR practices in the 23 companies studied in 2004 and 2010 may reflect efforts to improve competitiveness and the reputation of the companies with shopping centres through CSR initiatives.

Policy theme(s)

Sustainable consumption and production >> Sustainable production >> Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry
Urban environment >> Urban planning >> Construction

Keywords

Corporate social responsibility benchmarking, Real estate sector, Shopping centres

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N/A

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http://www.sciencedirect.com/science/article/pii/S0959652611001272
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idalinasardinha@iseg.utl.pt

Title

Development and verification of new evaluation indicators for chemical management in corporations to meet WSSD goals

Reference

Journal of Cleaner Production
Volume 19, Issues 9-10, June-July 2011, Pages 1134-1140

Author(s)

Kiyohiro Kubota, Asako Kamizono, Shigeki Miyachi, Michio Yuki and Masaru Masuda

Study type

Peer Review Journal

Abstract

During the World Summit on Sustainable Development (WSSD), it was agreed that adequate chemical management based on risk assessment should be achieved by 2020. To achieve the WSSD goals, it is important to evaluate and enhance the voluntary activities of corporations because they are the main agents dealing with chemical management. To this end, we developed new evaluation indicators that were combined with the SCP Axes (Science Axis - evaluation of the scientific basis; Capacity Axis - evaluation of the abilities of personnel and organizations; and the Performance Axis - evaluation of results of activities and information disclosure to the community, etc.) and 4 elements (hazard assessment, exposure assessment, risk assessment, and risk management). We administered surveys to Japanese corporations from 2006 to 2008 to verify the developed indicators. The survey results showed that the activities concerning chemical management were very different across corporations for each industry category and that the hazard assessment improved, reflecting a vigorous social movement that included legal obligations. Therefore, the new evaluation indicators possessed high resolution and precisely grasped the changes in corporate activities. We found that these indicators provided an effective way to understand corporate activities designed to meet the goals of the WSSD.

Policy theme(s)

Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry
Risk assessment >> Hazards >> Hazardous substances

Keywords

Corporate activities, Evaluation indicator, Chemical management, Risk assessment, Risk management, WSSD

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N/A

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http://www.sciencedirect.com/science/article/pii/S0959652611000692
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kubota-kiyohiro@ceri.jp

Title

Paving the way for the ISO 14006 ecodesign standard: an exploratory study in Spanish companies

Reference

Author(s)

German Arana-Landin and Inaki Heras-Saizarbitoria

Study type

Peer Review Journal

Abstract

A Spanish ecodesign standard (the UNE 150301) is being used as a basic reference point in paving the way for the future ISO 14006 ecodesign standard which may foreseeably be passed in 2011. This article aims to analyze the experience regarding adoption of the UNE 150301 in Spain.
Following an analysis of the standard's structure, its objectives and scope, its real implementation process is then analyzed based on an exploratory qualitative study carried out in four Spanish companies that have been pioneers in adopting this environmental standard. The conclusion is drawn in the article that in all the cases analyzed, the greatest source of impact occurs in the phase in which the product is used and is related to energy consumption. Companies appear to be satisfied with the adoption of this standard and, in particular, point out that they have managed to reduce the environmental impact of their products. However, they draw attention to the fact that, to deal with certain instances of impact that increases in cost entail, administrative bodies need to establish mandatory regulations, as environmentally-friendly companies would otherwise lose competitiveness.

Policy theme(s)

Sustainable consumption and production >> Sustainable production >> Ecodesign
Sustainable consumption and production >> Sustainable production >> Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >>Sustainable business and industry

Keywords

Ecodesign, ISO 14006, UNE 150301, Environmental impact, Life cycle

Entry Source:

N/A

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Shortlisted for Science for Environment Policy News Alert

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http://www.sciencedirect.com/science/article/pii/S0959652611000394
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g.arana@ehu.es

Title

Applying sustainable development principles to contaminated land management using the SuRF-UK framework

Reference

Remediation Journal
Volume 21, Issue 2, pages 77-100, Spring 2011
DOI: 10.1002/rem.20283

Author(s)

Study type

Peer Review Journal

Abstract

In the past decade, management of historically contaminated land has largely been based on prevention of unacceptable risks to human health and the environment, to ensure a site is “fit for use.” More recently, interest has been shown in including sustainability as a decision-making criterion. Sustainability concerns include the environmental, social, and economic consequences of risk management activities themselves, and also the opportunities for wider benefit beyond achievement of risk-reduction goals alone. In the United Kingdom, this interest has led to the formation of a multistakeholder initiative, the UK Sustainable Remediation Forum (SuRF-UK). This article presents a framework for assessing “sustainable remediation”; describes how it links with the relevant regulatory guidance; reviews the factors considered in sustainability; and looks at the appraisal tools that have been applied to evaluate the wider benefits and impacts of land remediation. The article also describes how the framework relates to recent international developments, including emerging European Union legislation and policy. A large part of this debate has taken place in the “grey” literature, which we review. It is proposed that a practical approach to integrating sustainability within risk-based contaminated land management offers the possibility of a substantial step forward for the remediation industry, and a new opportunity for international consensus

Policy theme(s)

Soil >> Threats to soil >> Soil contamination
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

N/A

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Shortlisted for Science for Environment Policy News Alert

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N/A

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http://onlinelibrary.wiley.com/doi/10.1002/rem.20283/abstract
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paul@r3environmental.co.uk

Title

Urban and tourist land use patterns and water consumption: Evidence from Mallorca, Balearic Islands

Reference

Land Use Policy
Volume 28, Issue 4, October 2011, Pages 792-804

Author(s)

Angela Hof and Thomas Schmitt

Study type

Peer Review Journal

Abstract

The island of Mallorca is the main Balearic resort and sustainable water management is a key challenge for the economic and ecological sustainability of tourism as the main economic activity. The critical water supply situation on the island is being exacerbated by the extension of the tourist base to so-called 'quality tourism'. Since the mid 1990s, low-density residential tourist land uses associated with second homes and more affluent urban dwellers have spread around existing mass tourist urban centres. Increasing water consumption for outdoor uses (gardens, swimming pools) is a direct consequence of this development. Available water consumption data mask the impact of residential tourism on water consumption levels. The objective of the present paper is to compare per capita water consumption in quality tourist, mass tourist and residential urban areas, and to provide quantitative information on the magnitude of water consumption by gardens and swimming pools as water-related leisure structures. The analysis combines water consumption data with a land use geodatabase at the sub-parcel scale, a detailed population inventory, and an estimate of pool water use. The results show that quality tourism produces higher water consumption levels per capita than mass tourism. Garden irrigation is the single main cause of the high water consumption in quality tourist areas and accounts for more than 70% of these areas' total consumption in summer. But even in mass tourist and residential areas, garden irrigation accounts for up to 30% and 20%, respectively, of total water consumption in summer. Individually owned swimming pools cause an additional average water consumption of 22 litres/person/day. The proliferation of swimming pools and lavish 'Atlantic' gardens may turn out as one of the biggest threats to sustainable water management on the island of Mallorca and in other tourist destinations adapting the quality tourist model.

Policy theme(s)

Sustainable consumption and production >> Sustainable production >>  Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable urban development
Water >> Water consumption >> Water scarcity

Keywords

Per capita water consumption, Tourism, Mallorca, Second homes, Garden irrigation, Swimming pools

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Selected for Science for Environment Policy News Alert

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N/A

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http://www.sciencedirect.com/science/article/pii/S0264837711000172
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angela.hof@ruhr-uni-bochum.de

Title

Adapting for a Green Economy: Companies, Communities and Climate Change

Reference

A Caring for Climate report by the United Nations Global Compact,
United Nations Environment Programme (UNEP), Oxfam, and
World Resources Institute (WRI)

Author(s)

See above

Study type

Report

Abstract

Drawing on the results of a 2010 survey of corporate signatories to the United Nations Global Compact and the United Nations Environment Programme Caring for Climate initiative,as well as on existing literature, this report makes the business case for private sector adaptation to climate change in ways that build the resilience of vulnerable communities in developing countries. It then offers
actions that companies and policymakers can pursue to catalyze and scale up private sector action on adaptation. It is ultimately the responsibility of the public sector to meet the critical climate change adaptation needs of the poor and vulnerable; thus private sector engagement cannot substitute for critically needed public investment and policies. However, private sector investment can serve as a pivotal part of a comprehensive governmentled approach to addressing climate impacts.

Policy theme(s)

Climate change and energy >> Climate change adaptation >> Social and health impacts
Sustainable development and policy assessment >> Sustainable economic development >> Green economy
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

N/A

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http://pdf.wri.org/adapting_for_a_green_economy.pdf
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www.unglobalcompact.org / www.unep.org / www.oxfam.org / www.wri.org

Title

Environmental regulation and investment: Evidence from European industry data

Reference

Ecological Economics 70 (2011) 759-770

Author(s)

Andrea M. Leiter, Arno Parolini, Hannes Winner

Study type

Peer Review Journal

Abstract

This paper contributes to the empirical literature on the relationship between environmental regulation and firm behavior. In particular, we ask whether and how strongly an industry's investment responds to stringency in environmental regulation. Environmental stringency is measured as (i) an industry's total current expenditure on environmental protection, and (ii) a country's revenue from environmental taxes. Focusing on European industry level data between 1995 and 2005, we estimate the di erential impact of environmental stringency on four types of investment: gross investment in tangible goods, in new buildings, in machinery, and in `productive' investment (investment in tangible goods minus investment in abatement technologies). Both environmental variables enter positively, and their quadratic terms exhibit significantly negative parameter estimates. This, in turn, indicates a positive but diminishing impact of environmental regulation on investment.

Policy theme(s)

Sustainable consumption and production >> Sustainable production >> Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >> Environmental governance and law

Keywords

Investment, Environmental regulation, Pollution abatement costs, Europe

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Selected for Science for Environment Policy News Alert

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N/A

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http://www.sciencedirect.com/science/article/pii/S0921800910004660
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andrea.leiter@uibk.ac.at

Title

Sustainable Development Commission (SDC), UK

Reference

Departmental Sustainability Assessment. Findings and Recommendations; Pilot with the Department for Work & Pensions, p. 1-32

Author(s)

Farooq Ullah, Anne-Marie Shields, Jemma Percy

Study type

Report

Abstract

Over the past year the SDC has been working with the Department for Work and Pensions (DWP) to pilot a new approach to assessing the sustainability performance and capability of a Government Department. This report provides a summary of the SDC's findings and recommendations based on the Departmental Sustainability Assessment (DSA) method. A DSA is a both a capability-building tool and an in-depth analysis of a single Department's sustainability performance across the areas of: leadership & governance, policy, people, operations, procurement and the processes that underpin each of these. It also provides recommendations on how to improve this performance in the long-term to deliver more efficient and effective outcomes.

The aim is to establish how well the sustainable development principles are being applied within DWP's core business and to identify both positive and negative practices, impacts and any opportunities. The benefit to the Department of such an approach is the provision of independent advice to enable further progress on conducting its core business more sustainably and therefore more efficiently. In particular, DWP will be better positioned to contribute to the Government's aims of "mainstreaming sustainable development" and being the "greenest Government ever" through, for example, reducing its carbon emissions by 10% in the first year of the new administration and delivering greater social justice in the long-term through better public policy.

Policy theme(s)

Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

N/A

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N/A

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Selected for Science for Environment Policy News Alert

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http://www.sd-commission.org.uk/publications.php?id=1141
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sd-commission.org.uk

Title

Innovating for green growth.

Reference

World Business Council for Sustainable Development
Drivers of private sector RD&D p 1-44

Author(s)

World Business Council for Sustainable Development

Study type

Report

Abstract

By 2050, the world's population will have increased to 9 billion, with most of the growth in developing countries. Increasing urbanization and efforts to combat poverty will lead to rapid energy and infrastructure growth demand in these countries. While this offers a huge growth opportunity for business, it also presents companies with the challenge to address the climate change. Businesses understand that an unsustainable world is not a good place for doing business. The world needs business as a committed solution provider to meet future energy and climate challenges. Business is the main source of innovation, solutions and financing for the growth required, and it must continue to play a strong role in the future climate regime. This requires accelerated innovation, collaboration and implementation of low carbon solutions. It also requires greater collaboration across business sectors and between business, government, academia and civil society. Companies and governments recognize that a 'green race' is underway. This is a race fuelled by concerns for energy security and the need to manage resource scarcity. It reflects the constraints imposed by both climate change and the current economic situation that encourages cost savings through efficiency improvement. Companies want to gain a competitive advantage in future markets and need to anticipate regulatory regimes and demand by consumers. Much has already been done in the absence of price signals and climate regulations, but more can be done with efficient policies.

Policy theme(s)

Environmental technologies >> Technology policy >> Ecoinnovation
Sustainable consumption and production >> Sustainable production >> Sustainable business and industry
Sustainable development and policy assessment >> Sustainable economic development >> Green economy
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

N/A

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Shortlisted for Science for Environment Policy News Alert

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N/A

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http://www.wbcsd.org/includes/getTarget.asp?type=d&id=MzkyMTk
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info@wbcsd.org

Title

Advancing adaptation through climate information services:
Results of a global survey on the information requirements of the financial sector

Reference

UNEP Finance Initiative (UNEP FI) & Sustainable Business Institute (SBI)
January 2011

Author(s)

Dr Paschen von Flotow, Paul Clements-Hunt, et al

Study type

Report

Abstract

This study focuses on the information needs of the financial sector with respect to direct physical risks of climate change impacts. Clearly, there are many issues for the sector relating to mitigation (i.e. the control of greenhouse gas emissions). Mitigation continues to be the top priority. However, that is not the subject of this study. This survey focuses on the climate information requirements of the financial sector as part of their and their customers' adaptation strategies. The evidence comes from sixty financial service providers, through a survey conducted by the UNEP Finance Initiative, and the Sustainable Business Institute (SBI), Germany.
To be able to manage climatic risks affecting their business portfolios, financial institutions need information - in the form of predictions, analyses, and interpretation – that is relevant for their decisions. It needs to be appropriate to the duration of contracts, the regions where customers hold assets or undertake operations, and the hazards that are material to the operations of borrowers, investees, and the insured.
The key challenge for insurers and reinsurers in serving these demands and seizing these new opportunities lies in adequately identifying, quantifying, and pricing such risks amidst a dynamic environment. At the same time changing patterns of weather hazards also create new demand for risk transfer and can thus become a key business opportunity for the insurance sector, as they will provide space for new insurance markets and products.
A different situation holds for the credit and asset management branches. They are less familiar with climate change because the physical effects of climate change have not yet systematically turned into financially relevant consequences. Only just over one-quarter of lenders surveyed claim to 'systematically always' integrate direct effects of climate change in their operations now. Direct risks like accumulation of risks, changing risk patterns, and increasing credit losses caused by physical
impacts are expected to gain importance in the future (by about 80% of respondents).

Policy theme(s)

Sustainable development and policy assessment >> Sustainable economic development >> Green economy
Sustainable development and policy assessment >> Sustainable economic development >> Sustainable business and industry

Keywords

N/A

Entry Source:

Shortlisted for Science for Environment Policy News Alert

Referred to in EC doc:

N/A

View this study at:

http://www.unepfi.org/fileadmin/documents/advancing_adaptation.pdf
This study is free to view

Contact the study author at:

fi@unep.org