The persistence of green goodwill

Civil coercion has its limitations, government regulation is only as effective as enforcement and investors base their estimates of firm value on information available from the firms themselves and from other sources. While voluntary disclosure is construed as being selective or incomplete, negative non-financial news such as details of fines imposed for environmental violation is reflected in lower stock prices for a short duration. This paper evaluates the persistence of goodwill capital for a sample of Indian companies from select industries, graded by their environmental performance. We conclude that investor concern differs across industries and that the correlation of environmental performance with firm valuation is, at best, weak and short-lived. Periodic scrutiny and announcement of industry environmental performance by appropriately equipped independent agencies could help coordinate and sustain stake-holder pressure on industry.     

Topographic factor in the groundwater estimations??a case study in typical semi-arid hard rock environments of Andhra Pradesh

Water table fluctuation (??h) can be used to rapidly assess changes in groundwater storage. But ??h gives acceptable results only if the point of observation is ideally located in the catchment of interest and gives average ??h of the area, a condition which is rarely met. However, if large numbers of observation wells are located within a basin (a catchment) the average ??h can be computed and used. But, a better way is to use points obtained by shallowest water level and deepest water levels to construct a wedge of water table fluctuation across the area of interest; the mean height of this wedge can be assumed to be the mean ??h in the area. And when there is only one observation well, the fact that water table is a subdued replica of the topography, is made use to construct the wedge of water table fluctuation. The results from some randomly selected observations in typical semi-arid, hard rock environment in Andhra Pradesh show that through this approach mean ??h can be effectively used to get change in groundwater storage in area. The mean recharge obtained in this study is in the order of 75 and mean draft is 58?mm/a, while mean recharge and draft obtained by conventional technique are 66 and 54?mm/a, respectively. The most likely specific yield around the middle reaches of a catchment ranges between 0.012 and 0.041 which is within the range given by Groundwater Estimation Committee of India for hard rocks.     

Significance of Bacillus subtilis strain SJ-101 as a bioinoculant for concurrent plant growth promotion and nickel accumulation in Brassica juncea

In this study, a nickel (Ni)-tolerant Bacillus subtilis strain SJ-101 was characterized based on the 16SrDNA homology and phylogenetic analysis. The role of this strain ascertained in facilitating Ni accumulation in the Indian mustard plant (Brassica juncea [L]. Czern and Coss) var. Pusa Bold (DIR-50), to elucidate the potential of Ni phytoremediation in combination with metal-tolerant rhizobacteria. The data revealed that the plants exposed to NiCl2 (1750 mg kg(-1)) in soil bioaugmented with strain SJ-101 have accumulated 0.147% Ni vis-à-vis 0.094% accumulation in dry biomass of the plants grown in uninoculated soil. The strain SJ-101 has also exhibited the capability of producing indole acetic acid (IAA) (55 microg ml(-1)), and solubilizing inorganic phosphate (90 microg ml(-1)) in specific culture media. The pot culture experiments clearly demonstrated the beneficial effects of bioinoculant strain SJ-101 with significant increase (p<0.05) in the plant growth attributes in untreated control soil. Furthermore, the protective effect of the strain SJ-101 against Ni phytotoxicity was evident in plants grown in soil treated with NiCl2 in concentration range of 250-1750 mg kg(-1). Thus, it is suggested that the strain SJ-101 owing to its intrinsic abilities of plant growth promotion, and attenuation of soil Ni by biosorption and bioaccumulation, could be exploited for bacteria-assisted phytoaccumulation of this toxic heavy metal from contaminated sites.     

Moisture Sorption Characteristics of Microbially Produced Polysaccharide and Polyvinyl Alcohol Blends

Moisture sorption characteristics of microbial polysaccharide (Ps.C101) from Pseudomonas caryophilli and polyvinyl alcohol (PVA) blends have been carried out at 27°C for water activity from 0.1 to 0.9. The sorption data was used to fit six different sorption isotherm models proposed in literature. The model constants were determined by linear fitting of the sorption equations. The ranges of applicability of water activity for isotherm models reported in this paper lie in between 0.1 and 0.4 for Brunaur–Emmet–Teller (BET) model (monolayer), and in between 0.2 and 0.9 for other models. The value of the coefficient of determination (R² = 0.97 ± 0.02) confirms the applicability of the equations studied.     

Capital allowance schemes for mining projects in LDCs

The capital allowance structure for mining projects in developing countries affects the supply price of investment by determining the payback period, reinvestment and the timing of government receipts. Using the capital allowance structures of Sierra Leone, Tanzania, Zambia, Botswana, Papua New Guinea and Malaysia, the article develops a financial model and examines the effect of capital allowances on foreign investor and host government cash flows under various cost-price conditions. The study stresses the importance to governments of making accelerated depreciation a flexible tool to trade off against other elements in the fiscal package. From the government viewpoint, faster write-offs of capital are preferable to a tax holiday. The article places particular emphasis on evaluating the relationship between capital allowances, income tax and a rent resource tax.     

A novel use of TiO2 fiber for photocatalytic ozonation of 2,4-dichlorophenoxyacetic acid in aqueous solution

More efficient oxidation methods are needed to degrade especially newly emerging recalcitrant organic contaminants at low concentrations in the water environment. Reduced photonic efficiency of immobilized TiO2 is a major challenge in TiO2-assisted advanced oxidation processes (AOP). Mineralization of 2,4-dichllorophenoxyacetic acid (2,4-D) in low aqueous solution by O3/UV/TiO2 using the world's first high-strength TiO2 fiber was investigated and compared with O3, UV/TiO2, and O3/TiO2 in laboratory batch ex...     

Heavy metals accumulation in tree leaves from urban areas

Higher plants may be used as biomonitors for the assessment of atmospheric heavy metal pollution by means of their bioaccumulative properties. We evaluated the reliability of biomonitoring heavy metal pollution by horse chestnut and linden leaves, common species found in Belgrade city parks. The results show that the highest concentrations of heavy metals were found in horse chestnut leaves at Studentski Park site, amounting to 110.2, 20.3 and 4.9 g g^–1 dry weight for Cu, Pb and Cd, respectively, which are considered above toxic levels for plants.Selected article from the Regional Symposium on Chemistry and Environment, Krusevac, Serbia, June 2003, organised by Dr. Branimir Jovancicevic.     

Evaluation of the levels and sources of trace elements in urban particulate matter

An assessment of air quality of Belgrade, Serbia, was performed by determining the trace element content in airborne daily PM₁₀ and PM_2.5 samples collected from a central urban area. The ambient concentrations of Zn were the highest in PM_2.5 (1,998.0 ng m⁻³). Multivariate receptor modelling (principal component analysis and cluster analysis) has been applied to determine the contribution of different sources of specific metallic components in airborne particles. The obtained results showed that vehicle traffic and fossil fuel combustion in stationary objects were the main sources of trace metals in Belgrade urban aerosols.