Abstract: The combined use of clean technologies can lead amongst other benefits to reduced environmental impacts, improved system efficiencies, better management of land scarcity, and diminishment of the effect of power variability of intermittent clean energy sources. Nonetheless, private investors facing budgetary constraints will only opt to invest in the combination of technologies if the latter is more profitable than the investment in a single technology. The aim of the paper is to provide a systematic model for decision makers that allows them to evaluate the profitability of any random combination of technologies under budgetary constraints, and to compare this profitability with that of the individual projects in isolation. This research goes beyond the state of art in the field of financial management and more specifically in the field of the rationing of capital amongst interdependent projects, by developing a method to calculate the payoff of interdependent projects undertaken together. Moreover, this paper develops a computational model from the investor's point of view, of which the purpose is threefold: First, the model allows to directly compare the economic payoff of individual complementary technologies with the economic payoff of their integrated combination, under budgetary constraints. Second, the model calculates economic synergies labeled benefits of combined technologies' (BOCT) when combining complementary technologies. Third, the model explains the rationalization behind the presence of BOCT. The model exemplifies an ex ante cost benefit analysis developed for business and non-governmental use. A four step methodology is proposed and illustrated by means of a case study of PV solar power and battery electric vehicles (BEVs) for a small Belgian enterprise. Results show that at low electricity prices (<Euro0.112/kWh) it is most profitable to invest in BEVs. When the price of electricity rises (>Euro0.134/kWh), investment in exclusively PV becomes most attractive. In all other cases, it is more profitable to invest in the combination of both technologies. Copyright (c) 2015 John Wiley & Sons, Ltd.

Abstract: This paper uses a mechanistic frontier approach as a reference to evaluate the ability of conventional parametric (SFA) and non-parametric (DEA) frontier approaches for analyzing economicenvironmental trade-offs. Conventional frontier approaches are environmentally adjusted through incorporating the materials balance principle. The analysis is worked out for the Flemish pig finishing case, which is both representative and didactic. Results show that, on average, SFA and DEA yield adequate economicenvironmental trade-offs. Both methods are good estimators for technical efficiency. Cost allocative and environmental allocative efficiency scores are less robust, due to the well-known methodological advantages and disadvantages of SFA and DEA. For particular firms, SFA, DEA and the mechanistic approach may yield different economicenvironmental trade-offs. One has therefore to be careful when using conventional frontier approaches for firm-specific decision support. The mechanistic approach allows for optimizing performances per average present finisher, which is the production unit in pig finishing. Conventional frontier methods do not allow for this optimization since the number of average present finishers varies along the production functions. Since the mechanistic production function is based on underlying growth, feed uptake and mortality functions, additional firm-specific indicators can also be calculated at each point of the production function.

Abstract: The relationship between irrigation water availability and crop revenue is multifaceted. However, most of the previous studies focused only on the direct effect of irrigation water on crop revenue or considered that the indirect effect passes only through the farmers’ improved farm inputs usage. Nevertheless, unlike previous studies, this study argues that a one-sided argument that irrigation water directly causes high crop revenue or indirectly affects crop revenue only via the farmers’ improved farm inputs usage is incomplete, as irrigation water not only directly contributes to crop revenue but also indirectly conduces to crop revenue via both the type of crops produced and the farmers’ improved farm inputs usage. Considering the previous studies’ limitations, this study investigates pathways how small-scale irrigation water affects crop revenue and identifies challenges of small-scale irrigation farming in Fogera district, Ethiopia. Results endorsed that irrigation water has both direct and indirect effects on crop revenue. The indirect effect is 67 percent of the total effect and it is mediated by both the type of crops produced and farmers’ improved farm inputs usage. The result also indicated that irrigation user farmers have a higher income, more livestock assets and resources and better food, housing, and cloths than the non-users. Moreover, challenges related to agricultural output and input market were identified as the most severe problem followed by crop disease. The findings of our study suggest that to utilize the benefits of irrigation water properly, it is crucial to encourage farmers to use more improved farm inputs and to shift from staple to cash crop production. Moreover, farmers are frequently exposed to cheating by illegal brokers in the output market, therefore it is also important to increase farmers’ accessibility to output and input markets, the quality of improved farm inputs, and the bargaining power of farmers with market information.

Abstract: Lake Tana is the most important freshwater lake in Ethiopia. Besides pressures on water quality resulting from urbanization and deforestation, the invasion of the exotic water hyacinth (Eichhornia crassipes) poses new threats to the ecosystem. Water hyacinth, endemic to South America, is widely considered as the world's worst aquatic invasive weed. In 2011, the weed appeared on the northern shores of Lake Tana, expanding in south-eastern direction. The lake area affected by water hyacinth was last estimated in 2015 at 34,500 ha, which equals 16% of the total lake surface. In this research, the benefits of water hyacinth control and eradication for the rural population inhabiting the northern and northeastern villages bordering Lake Tana, are investigated. In the area, the population largely depends on farming and fishing. An assessment of the total economic benefit of eradication was conducted. The stakeholder-centered approach led to measuring the willingness to contribute in labor and cash terms. Results showed smallholders in the study are willing to contribute over half-a-million euros annually. Costs of management actions can be weighed to the benefits, where further research is needed on the impact on other stakeholder groups. Moreover, wetland management should advance to explore multiple pathways in an integrated approach: water hyacinth control, water hyacinth utilization and sustainable waste water management. (C) 2020 International Association for Great Lakes Research. Published by Elsevier B.V. All rights reserved.

Abstract: Based on extensive field information, farmer-led small-scale irrigation systems along the dam-regulated Tekeze River is investigated and the likelihood of future irrigation expansion within the area with modelled potential is discussed, considering facilitating and hampering factors. Due to dam-induced hydrologic alterations, downstream socio-ecological systems have strongly transformed as the irrigated area has quadrupled and the post-dam potential for perennial crop cultivation has attracted numerous migrant investors to the area, inducing inequalities but also providing opportunities. Future dam construction should involve tailored policy interventions to facilitate irrigation expansion, while safeguarding equal and sustainable access to water and land.

Abstract: The increasing focus on circular economy at the level of governments and policy requires the development of appropriate indicators to effectively monitor the progress towards the circular economy. Currently two very different types of indicator areas are under development: (i) monitoring frameworks based on macro indicators that summarize the progress at (supra)national level, and (ii) micro indicators tailored towards assessing circularity at the level of products. It is not possible to obtain sufficiently direct feedback about the impact of policy interventions by either macro or micro indicators alone. In this paper, a conceptual approach is developed that aims to bridge the gap between the micro and macro level with meso level indicators, and thus ultimately deliver more direct feedback for policymakers, via the insertion of an extra level of meso indicators in between the macro and the micro level. These indicators have been extracted from a dedicated workshop that involved policy, sector and societal stakeholders. The aim of these indicators is to report on progress towards circular economy objectives based on the fulfillment of societal needs. In this way the consumption perspective is given a central position, and the role of circular business models is acknowledged. Following the development of the concept, the next steps towards tailored, flexible and agile monitoring frameworks for circular economy at (supra)national and regional level are outlined. The paper concludes with an illustrative example of the framework applied to the mobility system.

Abstract: Open waste dumps in Sri Lanka generate adverse environmental and socio-economic impacts due to inadequate maintenance. In this study, a concept of 'open waste dump mining' is suggested in order to minimise the environmental and socio-economic impacts, together with resource recovery. A model based on life cycle assessment and life cycle costing has been used to assess the environmental and economic feasibility of the suggested open waste dump mining concept. Two scenarios have been defined for a hypothetical case, dependent on the destination of the refuse derived fuel fraction. Scenario 1 comprises direct selling of refuse derived fuel as an alternative fuel to replace coal usage in the cement industry, while Scenario 2 consists of thermal treatment of refuse derived fuel with the objective of producing electricity. The study shows that both scenarios are beneficial from an environmental point of view, but not from an economic view point. However, economic profits can be obtained by adjusting waste transport distances and the price of electricity. The environmental analysis further reveals that the higher global warming potential of open waste dumps can be eliminated to a large extent by applying suggested mining and waste valorisation scenarios. (C) 2015 Elsevier B.V. All rights reserved.

Abstract: Non-renewable resources include a large variety of deposits that have been formed by geological processes over millions of years. Although extraction of such resources provides benefits as employment and economic revenues, it also contributes to negative environmental externalities and it increases resource scarcity. An important policy question is how to optimally extract non-renewable resource stocks over time while taking possible substitutes and recycling into account. The present paper adds to the literature by developing a generic numerical optimisation model that can be used to simulate non-renewable resource management regimes and the effects of different policy instruments deployed at different stages of the resource's life cycle. By including recycling and substitution, the model extends the seminal cake-eating Hotelling model that dominates the non-renewable resource economics literature. In addition to being generically designed, the model can accommodate for non-competitive market settings, interacting policy instruments and environmental externalities at different stages of the material's life cycle. The model's possibilities are illustrated by means of a numerical simulation example for the extraction of sand.

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: 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: The objective of this paper is to examine the recycling rates for mechanical and thermochemical recycling of postconsumer polyethylene flexible packaging after the implementation of different policy instruments. The study uses a supply chain equilibrium model that incorporates market data and techno-economic assessments to simulate market equilibrium. It combines this with a life cycle assessment to explore the environmental implications of implementing different policy instruments. The results show that instruments that do not target a specific technology are more likely to increase thermochemical recycling than mechanical recycling. Furthermore, a higher recycling rate is not equivalent to a better environmental outcome. An increased collection target that ensures a supply of plastic waste would increase the overall recycling rates the most. A recycled content standard for mechanical recycling would lead to the highest increase in mechanical recycling, with top results for environmental indicators, but low results for economic indicators.

Abstract: Recently, the original benchmarking methodology of the Sustainable Value approach became subjected to serious debate. While Kuosmanen and Kuosmanen (2009b) critically question its validity introducing productive efficiency theory, Figge and Hahn (2009) put forward that the implementation of productive efficiency theory severely conflicts with the original financial economics perspective of the Sustainable Value approach. We argue that the debate is very confusing because the original Sustainable Value approach presents two largely incompatible objectives. Nevertheless, we maintain that both ways of benchmarking could provide useful and moreover complementary insights. If one intends to present the overall resource efficiency of the firm from the investor's viewpoint, we recommend the original benchmarking methodology. If one on the other hand aspires to create a prescriptive tool setting up some sort of reallocation scheme, we advocate implementation of the productive efficiency theory. Although the discussion on benchmark application is certainly substantial, we should avoid the debate to become accordingly narrowed. Next to the benchmark concern, we see several other challenges considering the development of the Sustainable Value approach: (1) a more systematic resource selection, (2) the inclusion of the value chain and (3) additional analyses related to policy in order to increase interpretative power.

Abstract: Producing enough food to meet the needs of a growing population has always been the greatest concern of food policy-makers around the world. Given the increasing attention to organic farming (OF), we conducted this study to investigate the main opportunities and challenges of the food production system of small-scale farmers in developing countries with an emphasis on their livelihoods. The study showed that the most significant advantages of OF are environmental protection and a higher resilience to environmental changes, increasing farmers' income and reducing external input cost, enhancing social capacity and increasing employment opportunities. A s well as enhancing food security primarily by increasing the food purchasing power of local people. However, the main challenges of this food production system include lower yields in comparison to conventional systems, difficulties with soil nutrient management, certification and market barriers, and the educational and research needs of small-holders. The paper concludes that even though OF might present some significant challenges to small-scale farmers, it could/should still be considered as a part of the solution and means of improving their livelihoods.

Abstract: A major objective of European agricultural policy is to have a sustainable and efficient farming sector that is applying environmentally-friendly production methods. Policy makers aim to combine a strong economic performance and a sustainable use of natural resources. Therefore, it is important to measure and to assess farm sustainability. For a large dataset of Flemish dairy farms, a valuation method that is based on the concept of opportunity costs is used to calculate and analyze differences among the sample farms with respect to the creation of sustainable value. But more important than measuring the creation of sustainable value is to analyze differences in sustainable efficiency. Therefore, sustainable efficiency measures are calculated and differences in sustainable efficiency are explained. Using panel data, an effect model captures the determinants of sustainable efficiency of the studied farms. The empirical model shows that, in general, larger farms have a higher sustainable efficiency. Also farmer's age and dependency on support payments proved to be determining characteristics for observed differences in sustainable efficiency.

Abstract: Integrated ecosystem management is challenging due to many, often conflicting, targets and limited resources to allocate. A valuable and straightforward approach is to integrate an ecosystem services assessment in a cost-effectiveness analysis as method to evaluate and compare the cost-effectiveness of several management scenarios to reach one or more objectives and take into account the potential effects on other ecosystem functions and services. Nevertheless, this method is not commonly used in ecosystem management evaluation but can provide an alternative for the frequently used but often contested cost-benefit analysis (which requires the step of assigning a monetary value to each benefit). The aim of this study is to apply the cost-effectiveness analysis in combination with an ecosystem services assessment on a real case-study (comparing alternative management strategies for estuaries) to derive lessons learned to go from theory to practice. The application of this method for the case-study reveals many remaining challenges such as data availability and knowledge to assess ecosystem effects of management measures. Nevertheless, the analysis demonstrates that this method can be used for making a more integrated evaluation and supporting better-informed management decisions.