Sustainable Development and the Role of the Financial World

The incapacity to finance sustainable development through philanthropic official assistance turned the Johannesburg Summit to business world and the financial industry. Pioneering financial institutions – including development banks and private banks – have developed a wide range of innovations that can support sustainable development. This article highlights a few innovative products and markets and focuses on the progress made by financial players on the level of standards, metrics and guidelines to improve sustainability management systems, reporting and accounting practices and the multi-stakeholder dynamic. The role of the socially responsible investing (SRI) community has been underexposed by the Summit. Through its voice and market success, SRI has moved from a green market niche to the mainstream, however not becoming mainstream. The invaluable levering effect of SRI has just been discovered by authorities and market regulators and is becoming instrumental. In order to show the business case of Corporate Social Responsibility and to prove the financial viability of the People, Planet, Prosperity investing approach, the SRI community should critically reflect on its own quality assurance systems, sound disclosure and verification practices.     

User involvement in the ergonomic development of a medical instrument: a longitudinal case study

In this study the focus is on the continuous ergonomic-focused development of a medical instrument that is capable of performing blood group serological tests. Primarily, a medical device must be clinically effective and safe. At the same time it must also meet the needs of its users. This calls for consideration of numerous ergonomic aspects. The development process of the product line in question was supported by a longitudinal series of carefully designed focus groups. Altogether, the 23 focus groups conducted included 245 participants from 72 laboratories. The aim of the empirical research was to collect users’ experiences, ideas and needs as inputs for the following phase of the product development process. During the mentioned focus group analyses, around 100 development proposals were conceived. Besides presenting more of the mentioned development proposals, the focus group analysis was shown as a proper methodology to involve end-users in the development and implementation of new technology or devices.     

Institutional, Legal, and Economic Instruments in Ghana's Environmental Policy

The environmental situation in Ghana is characterized by desertification, land degradation, deforestation, soil erosion, and inadequate water supply in the northern regions of the country. The population as a whole is growing at a rate of 3% per annum, with even greater urban growth rates, due to rural out-migration. Large parts of the coastal zone in the south are rapidly developing to become one large suburbanized area. Water quality is particularly threatened in the urban and industrialized areas, which are mainly located in the southern part of the country. The coastal lagoons and coastal waters are moderately to heavily polluted. Erosion extends along the whole Ghanaian coast with excesses, for example, in the Keta area, where during the last century over 90% of the original buildings have been washed awayby the sea. The obvious environmental consequences of the mining sector are illustrative of the environmental threats caused by a fast growing industry and industrializing agriculture, in a country where environmental policy is only in its formative years. Desertification, food insecurity and coastal erosion all contribute to an increasing number of environmental refugees. Environmental policy in Ghana is a post-Rio phenomenon. Environmental laws, a Ministry of Environment, Science and Technology, an advisory National Committee for the Implementation of Agenda 21, and a fully mandated environmental administration have been established. This administration advocates a progressive attitude towards environmental legislation and points out the specific utility of economic and legal instruments in environmental management in this relatively fast developing country. The choice of instruments for environmental management is increasingly influenced by the specific state of African environmental and technological capacity and by a call for the recognition of the role of traditional customs in nature conservation. This African perspective on environmental management is further intensified by an unmet need for regional, transboundary cooperation in the West African subcontinent. This specific West African context calls for an elaboration of an effective capacity-building program for environmental management in the area.     

节能环保产业政策工具评述与展望

节能环保产业是打赢污染防治攻坚战的重要支撑,也是推动经济发展的新兴绿色动能。本文利用瓦当设计的政策工具三分法,对当前节能环保产业政策工具进行了分类研究。当前,影响节能环保产业政策的工具主要包括管制型工具、经济型工具、信息型工具三个类型。管制型工具包括指标控制、强制性标准和监督考核等;经济型工具包括财政支持、税收优惠、价格政策、金融政策等;信息型工具包括技术推广机制、产品推广机制等。尽管我国已经初步建立了政策支持体系,但当前政策工具仍然存在一系列不足,管制型工具、经济型工具、信息型工具都有较大的改进调整空间,应当进一步形成规范、合理的管制型制度,以普惠为主而非补助为主的经济型制度,以提供信息服务为主的信息型制度,并以此促进节能环保产业健康、有序发展。     

Crediting uncertain ecosystem services in a market

The margin of safety (MOS) approach is an increasingly prevalent tool for ensuring the integrity of market-based programs for providing ecosystem services. Over-crediting is reduced by setting aside mean estimates of uncertain services in favor of a more conservative estimate. Like many environmental policy problems, ecosystem service markets involve the aggregation of uncertainty over multiple scales, e.g. from landowners to market intermediaries to the overall market. We examine how the MOS instrument affects, and is affected by, an ecosystem services market. We show that the common bottom-up approach of imposing risk preferences at a local, disaggregated level—held over from earlier development in the context of toxics and command and control-style health risk regulation—leads to several unintended consequences. Furthermore, discounting landowner services can actually increase their profits, conditional on the elasticity of credit demand. We illustrate theoretical insights with an empirical application to greenhouse gas offset crediting in agriculture.     

Costa Rican Environmental Service Payments: The Use of a Financial Instrument in Participatory Forest Management

The core element of the Costa Rican forestry policy is a financial instrument called the environmental service payment. This instrument rewards forest owners for the environmental services (the mitigation of greenhouse gases, the protection of watersheds and scenic beauty, and the development of biodiversity) their forests provide. In this article, the experiences with this new instrument are analyzed by focusing on the way interests are represented and access is granted, the openness of information exchange, whether social learning occurred, and whether decision-making authority is shared. The analysis is based on a survey conducted in the Huetar Norte Region and on in-depth interviews with the major stakeholders. The Costa Rican case indicates that financial instruments can be used to share responsibilities and that stakeholders can successfully cooperate on forest issues. It also shows that such a participatory approach is only promising if certain cultural, economic, organizational, and political conditions are met.     

Integration of biodiversity in urban planning instruments in developing countries: the case of Kumasi Metropolitan Assembly,Ghana

There is a growing concern about integrating biodiversity into urban planning, yet, discussions are concentrated on science-informed planning in general. Few have explored the integration of biodiversity in specific planning instruments, especially in African cities. This paper examines how and what components of biodiversity are integrated into master plans, medium-term plans, building codes, zoning codes and permits in Kumasi City, Ghana. There is limited integration of biodiversity in most planning instruments as they were mostly designed on the basis of health, safety and economy. Allied to lack of funding and public participation, biodiversity in Kumasi is under significant threat from rapid urban development. Creating an opportunity for popular participation and decentralizing the planning system could set the preconditions for local integration and revision of instruments. Simplifying the definition of biodiversity could increase local planners’ appreciation, understanding and their ability to make use of biodiversity data.     

生态系统服务市场化工具:概念、类型与适用

生态系统服务市场化工具作为一种与命令控制型进路相对的环境政策工具,最初与污染问题相联系而出现,之后扩展至生物多样性和生态系统服务的保护,被认为能够更有效地应对市场失灵,为自然资源管理提供正向激励,有助于优化资源配置以及填补生态保护资金缺口。通过对生态系统服务市场化工具概念、类型和适用的考察,可以发现生态系统服务市场化工具的概念虽频繁出现,但界定过于宽泛模糊,几乎泛指所有带有价格成分的工具;生态系统服务市场化工具的类型划分并不一致,基于归纳的类型划分将现行市场化工具归纳为基于价格的机制、基于数量的机制和市场摩擦机制三类,而基于演绎的类型划分,则将市场化工具分为直接市场交易、许可证交易、反向拍卖、科斯类型协议、调控价格变化和自愿性价格信号六类;生态系统服务市场化工具的适用需要以生态系统服务的货币化为前提,受制于制度背景,并且应当针对市场的弊端予以法律规制,确保交易能够真正提供环境效益;市场化工具的选择不仅有赖于数字运算,还应当考虑多种因素并予以权衡,同时综合运用各种市场化或非市场化工具。中国在建立健全生态保护市场体系的过程中,应当把握生态系统服务市场化工具通过生态系统服务货币化和商品化解决环境外部性问题这一实质,理解缓解银行、生态系统服务付费、反向拍卖、生态标签和生态认证等典型市场化工具的运行机理,明确生态系统服务市场化工具适用的前提和规则,更好地发挥市场化工具的积极功效,从而实现特定的环境政策目标。     

Effective EU and Member State policies for stimulating CCS

Although CO₂ capture and storage (CCS) is widely recognised as an option to mitigate climate change, consistent and effective EU policies to advance CCS are still absent. This paper discusses policy instruments for advancing large-scale deployment of CCS in the European Union, and evaluates them in a multi-criteria analysis. The EU Emissions Trading Scheme (EU-ETS) is a cost-effective instrument for limiting greenhouse gas emissions, but it is questionable whether its currently limited time horizon and short-trading periods will lead to substantial CCS diffusion. Complementary policies at the EU and the Member State level may repair this and provide sufficient incentives for CCS. Potential policies include financial instruments such as investment subsidies, a feed-in scheme, or a CO₂ price guarantee, as well as a CCS mandate or a low-carbon portfolio. These policy options differ with respect to their environmental effectiveness, possible interaction with the EU-ETS, costs and financial risk involved, and their competition with other mitigation options. Interactions between Member State policies and the EU-ETS are smaller in scope than those of EU-wide policies, but they are more likely to lead to displacement of financial resources from other low-carbon technologies. In addition, national policies may pose a significant part of the financial risk of CCS operations with Member States, reducing the operator's incentive to innovate. Overall, structural policies at the EU level, such as a mandate or a low-carbon portfolio standard would be more conducive for realising large-scale deployment of CCS across the EU as well as more acceptable to environmental organisations.