The influence of carbon emissions disclosure on company financial value in an emerging economy

Few studies have been conducted on the impact of carbon emissions disclosure on firms’ financial performance in emerging economies. Furthermore, comparison between accounting-based measures and market-based ones remains limited. This article examines the effect of carbon emissions reporting on the financial value of South African companies for the period 2010–2015. Using panel regression approaches, the findings show that, in most cases, carbon emission disclosure generates a positive relationship with ROA (an accounting-based indicator) but a negative association with MVA (a market-based indicator). The article concludes that accounting-based indicators offer more explanatory power for corporate greening initiatives.     

Discussion: “Meadow Restoration Increases Baseflow and Groundwater Storage in the Sierra Nevada Mountains of California” by Luke J.H. Hunt,Julie Fair,and Maxwell Odland

We discuss a recent paper which evaluated the hydrologic changes resulting from a pond‐and‐plug meadow restoration project in the Sierra Nevada Mountains of California. In the study, measurements of streamflow into and out of the meadow suggested late‐summer baseflow increased as much as five‐fold when compared with prerestoration conditions. However, the volume of streamflow attributed to the restored meadow (49,000–96,000 m³ over four months) would require that 2.5–4.8 m of saturated meadow soils drain during summer months. The groundwater data from this meadow record only 0.45 m of change over this timeframe, which is less than might be expected from plant use alone (0.75 m), suggesting this restored meadow may be acting as a water sink throughout summer rather than a source.     

Relationships between dairy slurry total solids, gas emissions, and surface crusts

Livestock slurry storages are sources of methane (CH?), nitrous oxide (NO?), and ammonia (NH?) emissions. Total solids (TS) content is an indicator of substrate availability for CH? and N?O production and NH? emissions and is related to crust formation, which can affect these gas emissions. The effect of TS on these emissions from pilot-scale slurry storages was quantified from 20 May through 16 Nov. 2010 in Nova Scotia, Canada. Emissions from six dairy slurries with TS ranging from 0.3 to 9.5% were continuously measured using flow-through steady-state chambers. Methane emissions modeled using the USEPA methodology were compared with measured data focusing on emissions when empty storages were filled, and retention times were >30 d with undegraded volatile solids (VS) remaining in the system considered available for CH? production (VS carry-over). Surface crusts formed on all the slurries. Only the slurries with TS of 3.2 and 5.8% were covered completely for ～3 mo. Nitrous oxide contributed <5% of total greenhouse gas emissions for all TS levels. Ammonia and CH? emissions increased linearly with TS despite variable crusting, suggesting substrate availability for gas production was more important than crust formation in regulating emissions over long-term storage. Modeled CH? emissions were substantially higher than measured data in the first month, and accounting for this could improve overall model performance. Carried-over VS were a CH? source in months 2 through 6. The results of this study suggest that substrate availability regulates emissions over long-term storage and that modifying the USEPA model to better describe carbon cycling is warranted.     

Effects of Tourism and Topography on Vegetation Diversity in the Subalpine Meadows of the Dongling Mountains of Beijing,China

Subalpine meadows in the Dongling Mountains (located at E115o26′-115o40′, N40o00′-40o05′) of Beijing, China are important for tourism and the provision of ecosystem services. However, because of poor management serious degradation has occurred on these subalpine meadows. The aim of this paper is to present a quantitative analysis of effects of tourism disturbance and topography on the status and diversity of montane meadow communities and to provide direction for improved management. Sixty quadrats of 2 × 2 m² along 10 transects were set up to collect data on site characteristics and vegetation status. The relationships between community composition and structure, species diversity, and tourism disturbance and topographic variables were analyzed by multivariate methods (TWINSPAN and CCA). The results showed that eight meadow communities were identified by TWINSPAN. Most of them were seriously degraded. The first CCA axis identified an elevation and tourism disturbance intensity gradient, which illustrated that tourism disturbance and elevation were most important factors influencing meadow types, composition and structure. Some resistant species and response species to tourism disturbance were identified and can be used as indicator species of tourism disturbance. Species richness, heterogeneity and evenness were closely related to tourism disturbance and elevation. It is concluded that tourism disturbance must be controlled to enable grassland rehabilitation to occur in the meadows. Measures of effective management of the meadows were discussed.     

The History of the Establishment and Management Philosophies of the Portuguese Protected Areas: Combining Written Records and Oral History

The history of the establishment and management philosophies of the mainland Portuguese Protected Areas was reconstructed through the use of written records and oral history interviews. The objectives were to review the main philosophies in the creation and management of these areas, to assess the influence of international PA models, to compare the Portuguese case with other European and international literature concerning PAs and to discuss the value of the oral history in this research. As main results, it was found that the initial management model of “Wilderness (or Yellowstone)” was replaced by the “new paradigm” of PAs when the democracy was re-established. Changes in the management philosophies within this “new paradigm” were also identified, which resulted in the transition of a “Landscape” to a “Nature conservation” model. After the establishment of the Natura 2000 network, the “Biodiversity conservation” model prevailed. It was also found that the initiative for the establishment of most PAs came from the government, although there were few cases of creation due to the action of NGOs and municipalities. Finally, oral history interviews enabled the addition of information to the literature review, but also provided more insight and detail to this history.     

Quantifying the Effects of Conservation Practices on Soil,Water, and Nutrients in the Loess Mesa Ravine Region of the Loess Plateau,China

A large number of soil and water conservation programs have been implemented on the Loess Plateau of China since the 1950s. To comprehensively assess the merits and demerits of the conservation practices is of great importance in further supervising the conservation strategy for the Loess Plateau. This study calculates the impact factors of conservation practices on soil, water, and nutrients during the period 1954–2004 in the Nanxiaohegou Catchment, a representative catchment in the Loess Mesa Ravine Region of the Loess Plateau, China. Brief conclusions could be drawn as follows: (1) Soil erosion and nutrient loss had been greatly mitigated through various conservation practices. About half of the total transported water and 94.8 % of the total transported soil and nutrients, had been locally retained in the selected catchment. The soil retained from small watersheds do not only form large-scale fertile farmland but also safeguard the Yellow River against overflow. (2) Check dam was the most appropriate conservation practice on the Loess Plateau. In the selected catchment, more than 90 % of the retained soil and water were accomplished by the dam farmland, although the dam farmland occupied only 2.3 % of the total area of all conservation measures. Retention abilities of the characteristic conservation practices were in the following order: dam farmland > terrace farmland > forest land and grassland. (3) The conservation practices were more powerful in retaining sediment than in reducing runoff from the Loess Plateau, and the negative effects of the conservation practices on reducing water to the Yellow River were relatively slight.     

The Potential Role for Management of U.S. Public Lands in Greenhouse Gas Mitigation and Climate Policy

Management of forests, rangelands, and wetlands on public lands, including the restoration of degraded lands, has the potential to increase carbon sequestration or reduce greenhouse gas (GHG) emissions beyond what is occurring today. In this paper we discuss several policy options for increasing GHG mitigation on public lands. These range from an extension of current policy by generating supplemental mitigation on public lands in an effort to meet national emissions reduction goals, to full participation in an offsets market by allowing GHG mitigation on public lands to be sold as offsets either by the overseeing agency or by private contractors. To help place these policy options in context, we briefly review the literature on GHG mitigation and public lands to examine the potential for enhanced mitigation on federal and state public lands in the United States. This potential will be tempered by consideration of the tradeoffs with other uses of public lands, the needs for climate change adaptation, and the effects on other ecosystem services.     

Navigating the Perfect Storm: Research Strategies for Socialecological Systems in a Rapidly Evolving World

The ‘Perfect Storm’ metaphor describes a combination of events that causes a surprising or dramatic impact. It lends an evolutionary perspective to how social-ecological interactions change. Thus, we argue that an improved understanding of how social-ecological systems have evolved up to the present is necessary for the modelling, understanding and anticipation of current and future social-ecological systems. Here we consider the implications of an evolutionary perspective for designing research approaches. One desirable approach is the creation of multi-decadal records produced by integrating palaeoenvironmental, instrument and documentary sources at multiple spatial scales. We also consider the potential for improved analytical and modelling approaches by developing system dynamical, cellular and agent-based models, observing complex behaviour in social-ecological systems against which to test systems dynamical theory, and drawing better lessons from history. Alongside these is the need to find more appropriate ways to communicate complex systems, risk and uncertainty to the public and to policy-makers.     

Radioactivity measurements in moss (Hypnum cupressiforme) and lichen (Cladonia rangiformis) samples collected from Marmara region of Turkey

The present study was conducted to compare the ¹³⁷Cs, ⁴⁰K, ²³²Th, and ²³⁸U activity concentrations in epigeic moss (Hypnum cupressiforme) and lichen (Cladonia rangiformis). The activity levels in 37 moss and 38 lichen samples collected from the Marmara region of Turkey were measured using a gamma spectrometer equipped with a high purity germanium (HPGe) detector. The activity concentrations of ¹³⁷Cs, ⁴⁰K, ²³²Th, and ²³⁸U in the moss samples were found to be in the range of 0.36-8.13, 17.1-181.1, 1.51-6.17, and 0.87-6.70 Bq kg⁻¹ respectively, while these values were below detection limit (BDL)-4.32, 16.6-240.0, 1.32-6.47, and BDL-3.57 Bq kg⁻¹ respectively in lichen. The average moss/lichen activity ratios of ¹³⁷Cs, ⁴⁰K, ²³²Th, and ²³⁸U were found to be 1.32 ± 0.57, 2.79 ± 1.67, 2.11 ± 0.82, and 2.19 ± 1.02, respectively. Very low ¹³⁷Cs concentrations were observed in moss and lichen samples compared to soil samples collected from the same locations in a previous study. Seasonal variations of the measured radionuclide activities were also examined in the three sampling stations.     

Implications of differing input data sources and approaches upon forest carbon stock estimation

Site index is an important forest inventory attribute that relates productivity and growth expectation of forests over time. In forest inventory programs, site index is used in conjunction with other forest inventory attributes (i.e., height, age) for the estimation of stand volume. In turn, stand volumes are used to estimate biomass (and biomass components) and enable conversion to carbon. In this research, we explore the implications and consequences of different estimates of site index on carbon stock characterization for a 2,500-ha Douglas-fir-dominated landscape located on Eastern Vancouver Island, British Columbia, Canada. We compared site index estimates from an existing forest inventory to estimates generated from a combination of forest inventory and light detection and ranging (LIDAR)-derived attributes and then examined the resultant differences in biomass estimates generated from a carbon budget model (Carbon Budget Model of the Canadian Forest Sector (CBM-CFS3)). Significant differences were found between the original and LIDAR-derived site indices for all species types and for the resulting 5-m site classes (p?<?0.001). The LIDAR-derived site class was greater than the original site class for 42% of stands; however, 77% of stands were within ±1 site class of the original class. Differences in biomass estimates between the model scenarios were significant for both total stand biomass and biomass per hectare (p?<?0.001); differences for Douglas-fir-dominated stands (representing 85% of all stands) were not significant (p?=?0.288). Overall, the relationship between the two biomass estimates was strong (R ²?=?0.92, p?<?0.001), suggesting that in certain circumstances, LIDAR may have a role to play in site index estimation and biomass mapping.