Abstract: As a response to increasing urbanization and changing weather and climatic patterns, urban green infrastructure (UGI) emerged as a concept to increase resilience within the urban boundaries. Given that implementing these (semi-) natural solutions in practice requires a clear overview of the costs and benefits, valuation becomes ever important. A range of decision-support tools for green infrastructure and ecosystem services exist, developed for various purposes. This paper reviews the potential of 10 shortlisted and existing valuation tools to support investment decisions of urban green infrastructure. In the assessment, the functionality is regarded specifically from the urban planning and decision-making viewpoint. The toolkits were evaluated on 12 different criteria. After analyzing the toolkits on these criteria, the findings are evaluated on the (mis)match with specific requirements in the urban planning and management context. Secondly, recommendations and guidelines are formulated to support the design of simple valuation tools, tailored to support the development of green infrastructure in urban areas. Approaching the valuation toolkits biophysically and (socio-)economically provides an integral overview of the challenges and opportunities of the capacities of each framework. It was found that most tools are not designed for the peculiarities of the urban context. Several elements contribute to the hampering uptake of GI valuation tools. Firstly, the limited effort in the economic case for green infrastructure remains a burden to use toolkits to compare grey and green alternatives. Secondly, tools are currently seldom designed for the peculiarities of cities: urban ecosystem (dis)services, multi-scalability, life-span assessments of co-benefits and the importance of social benefits. Thirdly, toolkits should be the result of co-development between the scientific community and local authorities in order to create toolkits that are tailor made to the specific needs in the urban planning process. It can be concluded that current tools, are not readily applicable to support decision making as such. However, if applied cautiously, they can have an indicative role to pinpoint further targeted and in-depth analyses.

Abstract: In recent decades new recycling technologies for mixed plastic waste have emerged. In pyrolysis, the polymer chains are thermally broken (pyrolyzed) to obtain hydrocarbon materials of different molecular weights such as naphtha, oil or waxes, whose yields can be controlled by varying the reaction parameters. Naphtha represents a closed-loop recycling process as it is a feedstock for (poly)olefins; while the co-production of waxes, having several applications in e.g. the construction industry, exemplifies an open-loop recycling process. This paper compares the economic performance of the pyrolysis of mixed polyolefin waste in a closed-loop and open-loop scheme, including a probabilistic approach to the most important variables. From an economic perspective, open-loop pyrolysis as presented outperforms closed-loop recycling, due to the high prices of wax. However, the results present a high dispersion caused by the volatility of the prices of crude oil and its derivates. Considering the current oil price projections, our case study analysis showed that for open-loop recycling there is a future probability of almost a 98 % of observing positive results and around 57 % of probability in the case of closed-loop recycling, under the assumptions made. Yet, in a future scenario where decarbonized electricity would decrease oil prices, the probability of a positive outcome reduces to 57 % for the open-loop case and to less than 8 % in the case of closed-loop recycling. To make these pathways attractive to investors, the nameplate capacity should be at least 70 kt/year for open-loop recycling and 115 kt/year for closed-loop recycling. A 120 kt/year plant should operate minimally at 80 % of its capacity for open-loop recycling, while closed-loop recycling would demand running close to maximum capacity. Security of feedstock supply therefore is required.

Abstract: This study is an attempt to develop ecotourism in Nehbandan County, in the South Khorasan Province, Iran, by representing unknown areas that have tourism potential. The most important obstacle in the development of tourism industry is the lack of strong marketing plans, tourism management, accommodations for overnight and long stays, and medical and health clinic in the desert. This is a qualitative, exploratory case study investigating the status of environmental, sociocultural, and economic impacts of ecotourism development on the native people's livelihood in Nehbandan County in Iran. The methodology is based on field observations, secondary data sources, and field survey. It is an interpretive approach that avoids numbers but focuses on issues linked to culture and nature. In the present study, the grounded theory was used to perform data analysis. Based on the findings, ecotourism has undoubtedly proven to be an effective environmental conservation tool in the study site and enables local people to increase their livelihood security through employment in activities relating to ecotourism and the development of rural livelihood.

Abstract: Lakes provide considerable social, economic, and ecological benefits. However, lakes are shrinking and the water quality is declining, due to human pressures such as water withdrawal and land use change, particularly in the developing world. Despite this, information regarding the economic impact of lake level reduction and local willingness to support restoration programs is lacking. This study employed a contingent valuation method to estimate willingness to pay and to contribute labor to Lake Ziway restoration program, Ethiopia. Face-to-face interviews were administered to 259 randomly selected respondents. Our findings revealed that about one-third of the respondents are willing to pay and about two-third are willing to contribute labor to restore the lake. From the interval regression models, the annual mean willingness to pay was estimated about 21.0 USD for the status quo scenario (the program works to keep water levels constant at current levels) and 31.1 USD for the improvement scenario (the program works to increase the water levels permanently). The annual mean willingness to contribute labor was estimated about 27.7 man-days for the status quo and 39.3 man-days for the improvement scenarios. 'Farm income' positively influenced the willingness to pay together with 'farm plot area.' Similarly, labor contribution was positively influenced by 'farm plot area' and 'education' and negatively by 'farm plot distance.' The economic values derived from this study reflect societal preferences and can form a significant input for policymakers, in support of informed and evidence-based decision-making regarding lake management and restoration in developing countries like Ethiopia.

Abstract: Sustainable management of industrial plastic waste is crucial in the transition to a circular economy. Today, most industrial plastic waste is incinerated, whereas it could be recycled. As a consequence, governments increasingly make use of incineration taxes to improve current waste management practices. This paper presents an econometric panel analysis that studies the effects of an incineration tax on industrial plastic waste in Flanders (Belgium). Not only is this study the first econometric analysis on industrial plastic waste management in which firm heterogeneity is explicitly taken into account by including firm-specific characteristics, but this study also provides policymakers with insights into the effectiveness of an incineration tax to change current waste management practices. Empirical estimates imply that heterogeneous firms generate industrial plastic waste in different ways and that heterogeneous firms reduce their waste generation in different ways after the incineration tax rate increases. The estimates also show that the unique decrease of the incineration tax in 2007, did not change waste management practices. These estimates show that firms do not disinvest or indicate that loss aversion theory, i.e. a preference for avoiding losses over acquiring equivalent gains, might apply to firms that are faced with environmental taxation in a waste management context.

Abstract: Extended producer responsibility (EPR) schemes have effectively increased the plastic waste that is separately collected. However, due to the structure of the recycling industry, EPR cannot increase recycling rates up to the target levels.Additional policy instruments to increase recycling rates such as recycled content targets, green dot fees bonus for recycled content, recycling targets and taxes on non-recycled plastic packaging have been discussed on a political level in the last years. However, very little research has quantitatively studied the effectiveness of these policy interventions.Using a partial equilibrium model, this paper examines the effectiveness of the implementation of the aforementioned policy instruments to increase recycling rates and the impact on different stakeholders of the value chain: plastic producers, consumers, producer responsibility organization and recyclers.Results show that direct interventions (recycled content standards and recycling targets) have the benefit of decoupling the recycling industry from external markets such as the oil market. They can be a good starting point to increase recycling, but in the long term they may be restricting by not presenting incentives to achieve recycling levels beyond the targeted amounts and by limiting technological innovation. On the contrary, eco-nomic interventions such as a green dot fee bonus or a packaging tax create economic incentives for recycling. However, these incentives are diminished by the lower perceived quality of packaging with higher recycled content levels.

Abstract: As decentralized electricity generation is supporting grid development into the prosumer era, this paper investigates the economic viability of adding batteries to residential microgrids powered by photovoltaic units, under various electricity pricing schemes. Batteries bring the benefits of grid-stabilization and congestion relief, and they are also becoming cheaper. The problem identified is that the main grid effectively acts as a lossless storage system, especially under the net-metering scheme, whereas using a battery involves investment costs and energy losses. This mismatch is addressed by analysing residential microgrid projects under seven tariff designs, each in seven countries of the European Union, and compare the economic viability of photovoltaic systems with and without batteries. The findings show that the conditions most favourable to batteries are given by a capacity tariff scheme allowing price arbitrage. Based on these findings, the paper discusses possibilities for further support in order to bring the economic viability of microgrids with batteries on par with that of microgrids without batteries.

Abstract: In the past decade, to improve crop production and productivity, Ethiopia has embarked on an ambitious irrigation farming expansion program and has introduced new large- and small-scale irrigation initiatives. However, in Ethiopia, poverty remains a challenge, and crop productivity per unit area of land is very low. Literature on the technical efficiency (TE) of large-scale and small-scale irrigation user farmers as compared to the non-user farmers in Ethiopia is also limited. Investigating smallholder farmers' TE level and its principal determinants is very important to increase crop production and productivity and to improve smallholder farmers' livelihood and food security. Using 1026 household-level cross-section data, this study adopts a technology flexible stochastic frontier approach to examine agricultural TE of large-scale irrigation users, small-scale irrigation users and non-user farmers in Ethiopia. The results indicate that, due to poor extension services and old-style agronomic practices, the mean TE of farmers is very low (44.33%), implying that there is a wider room for increasing crop production in the study areas through increasing the TE of smallholder farmers without additional investment in novel agricultural technologies. Results also show that large-scale irrigation user farmers (21.05%) are less technically efficient than small-scale irrigation user farmers (60.29%). However, improving irrigation infrastructure shifts the frontier up and has a positive impact on smallholder farmers' output.

Abstract: Ethiopia showed a rapid, yet, a none resilient economic growth much threatened by climate variability. In Ethiopia, the adverse effects of climate variability are stipulated among the significant factors constraining its economic development. There are relatively few studies about the adverse effects of climate variability on the Ethiopian macroeconomy. In this context, little is known about the exact effects of the ongoing climate variability on Ethiopian macroeconomic growth. This study intends to examine whether climate variability factors, for instance rainfall and temperature, have an effect on the macroeconomic output of Ethiopia. An asymmetric autoregressive distributive lag cointegration method is used to investigate time-series data for the years 1950-2014. Diagnostic tests show the relevance of the applied method and robustness of our results. The study finds climate variability affects Ethiopia's economic growth in the long run. Rainfall and temperature fluctuation induce significant negative impacts. A percentage annual temperature variability for instance decreases the Ethiopian annual gross domestic yield (GDP) up to 4.5 percent. In the short run, climate variability particularly rainfall and temperature changes also have a profound effect on Ethiopia's economic output. Within such confirmed climate change impacts, Ethiopia should carry out more on adapting and mitigating the impacts as it is presented on its climate-resilient economic growth policies and strategies. In spite of the policy contribution of the results, the study will motivate further research and will also serve as a benchmark for the coming Ethiopian studies.

Abstract: Purpose This paper aimed to investigate the determinants of loans and advances from commercial banks in the case of Ethiopian private commercial banks. Design/methodology/approach The study randomly selected seven commercial banks to represent the population stratified on their asset, deposit and paid-up capital amounts. The study utilized an unbalanced panel data model as each bank started operation at a different period of time and considered the period 1995-2016 for secondary details. Findings The findings showed that the deposit size, credit risk, portfolio investment, average lending rate, real gross domestic product (GDP) and inflation rate had significant and optimistic effects on the lending and advancement of private commercial banks. On the contrary, liquidity ratio had significant and negative effects on private commercial bank loans and advances. Finally, the study forwarded a feasible recommendation for concerned organs to focus on deposit size, credit risk, portfolio investment, average lending rate, real GDP, inflation rate and liquidity ratio. The results of this study will help banking industry policymakers and planners understand how to minimize inflation and unemployment by improving development and sustainable economic growth. Originality/value The findings of this study can also affect the general attitudes of a society by increasing knowledge and improve the quality of life for the general public.

Abstract: The number of agricultural cooperatives increased quickly in Ethiopia since the 1990s. While many papers studied the impact of membership of Ethiopian cooperatives, not much is known on their performance. This study takes a cooperative-level perspective which is unique in an African context. It compares the economic performance proxied by sales revenue and profit of a wide range of agricultural cooperatives in northern Ethiopia. Data were collected from 511 agricultural cooperatives in 12 districts of Tigray. The contributing factors of the performance are analyzed with Ordinary Least Squares regression (OLS) and Heckman selection models. Our results underscore the importance of membership size, total assets, presence of conflict among members, and union membership. Chairperson characteristics and the internal organization of a cooperative seem to be less correlated to performance.

Abstract: A better understanding of the drivers of the economic, environmental, and social sustainability of emerging (biobased) technologies and products in early development phases can help decision-makers to identify sustainability hurdles and opportunities. Furthermore, it guides additional research and development efforts and investment decisions, that will, ultimately, lead to more sustainable products and technologies entering a market. To this end, this study developed a novel techno-sustainability assessment (TSA) framework with a demonstration on a biobased chemical application. The integrated TSA compares the potential sustainability performance of different (technology) scenarios and helps to make better-informed decisions by evaluating and trading-off sustainability impacts in one holistic framework. The TSA combines methods for comprehensive indicator selection and integration of technological and country-specific data with environmental, economic, and social data. Multi-criteria decision analysis (MCDA) is used to address data uncertainty and to enable scenario comparison if indicators are expressed in different units. A hierarchical, stochastic outranking approach is followed that compares different weighting schemes and preference structures to check for the robustness of the results. The integrated TSA framework is demonstrated on an application for which the sustainability of a production and harvesting plant of microalgae-based food colorants is assessed. For a set of scenarios that vary with regard to the algae feedstock, production technology, and location, the sustainability performance is quantified and compared, and the underlying reasons for this performance are explored.

Abstract: A new reductive catalytic fractionation biorefinery process (RCF) is currently being developed transforming wood into high-value end-products. RCF is considered to be in the pilot stage with a technology readiness level of 5–6. Apart from the RCF-process characteristics, the economic feasibility also depends on the investment decisions that are made upstream and downstream within the wood value chain, increasing the level of uncertainty. Two investment options within the value chain are considered: an option to invest in harvesting equipment and an option to invest in the RCF. To understand the impact of multiple sources of uncertainty on the decision to invest in an innovative RCF-driven wood value chain, an analytical two-factor real options model is presented, accounting for correlated cost and price uncertainties. Two different scenarios, separated and united investments in harvesting equipment and RCF, are analyzed. In both scenarios, market uncertainty postpones investment in comparison to the traditional NPV approach. When both investments are considered separately, the investment in RCF is expected to be earlier than the investment in harvesting equipment. When both investment decisions are united, the probability of investment increases. The study reveals that RCF has the potential to stimulate investments from different investors, –upstream and midstream–, within the wood value chain. Besides, the introduced real options model proofs its ability to assess the economic feasibility of innovative technologies (e.g RCF) individually or within the value chain, taking into account multiple sources of uncertainty.

Abstract: The approaching end-of life phase of early installed PV modules gave rise to a variety of potential end-of-life strategies, ranging from basic generic waste management strategies to advanced case-specific recycling options. However, no comprehensive assessment on the full range of technological possibilities is available and only limited attention was given to the material recovery rates of these different technologies in light of circular economy. In addition, current material recovery rates are indifferent towards the material value and the value of their secondary applications. Based on an extensive literature review, ten end-of-life scenarios with potential learning effects are identified and their material flows are quantified using a combined material and substance flow analysis. Subsequently, material recovery rates from a mass, economic value and embodied energy perspective are calculated, incorporating the differences in secondary applications. The differences in the mass-based recovery rates of the seven end-of-life scenarios that did not have landfill or municipal waste incineration as the main destination were minimal, as 73-79% of the mass was recovered for the best-case learning scenario. For the economic value recovery rate (9-66%) and the embodied energy recovery rate (18-45%), more profound differences were found. The collection rate was identified as most crucial parameter for all end-of-life scenarios, learning scenarios and recycling indicators. The mass-based recovery rate might favor end-of-life scenarios that lead to dissipation of valuable materials in non-functional secondary applications. Additional targets are required to avoid cascading of valuable materials and to avoid the economic cost and environmental burden of virgin materials.

Abstract: Y Ecosystem services (ESs) include the benefits people receive from ecosystems that support the socio-economic requirements and human well-being. The Man and Biosphere (MAB) programs are a scientific plan in the African context that is linked to governments and attempts to create a systematic ground to enhance the relationship between individuals and their environments. Using economic valuation methods, the main objective of this study was to perform a systematic review on studies undertaken in African countries in order to expose the role of MAB programs in conserving ESs in these countries. Based on the results, MAB programs offer both the protection of cultural ecosystem services and the improvement of livelihoods. Moreover, the MAB programs enable biosphere reserves to help national governments find solutions to the pressing challenges in Africa. In conclusion, policymakers should be aware of the main goal of ESs valuation approaches. In other words, the main goal should focus on the creation of prevention rather than rehabilitation activities in order to avoid the loss of ecosystem services mainly at the cost of users. Overall, the findings of this study underlined that economic valuation methods should provide evidence to underpin the development of policy instruments for the conservation of ESs in African countries. More importantly, ESs conservation strategies should consider various measures to reduce human impacts while also considering their well-being. In this context, the study's main implication is that human well-being is determined not only by the quantity but also by the quality of ESs.