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The introduction provides an overview of the reasons why sustainable finance is high in the regulatory agenda, in the EU and increasingly elsewhere. It shows how the EU started to follow up on the UN goals for a more sustainable development, and how it translated those goals, first into its action plans and then into regulatory measures. The case for sustainability as a tool to manage climate and environmental risks is then explained. The introduction then summarises the contents and the main results of each chapter within the collection.
In this chapter, I analyse the main trade-offs between the economic value of the firm and its social value, exploring how they are solved through corporate governance and regulatory constraints. To begin with, I show how firms generate social value while also increasing their long-term value under the enlightened shareholder value approach. Thanks to organizational and technological innovation, firms are led to change their business models and organization to enhance environmental and social sustainability and increase long-term profitability. In addition, managers promote their firms’ sustainability in compliance with ethical standards which are part of corporate culture. In similar situations, generating social value may determine pure costs to the enterprise. I argue therefore that the perspective of instrumental stakeholderism appears too narrow, for situations exist where non-economic values are also relevant to the firm. The importance of ethics is especially underlined by CSR and stakeholder theory. Moreover, management studies emphasize the role of corporate governance and organizational theory in the promotion of social value. The board of directors should identify the ethical and cultural values of the firm and monitor their application at all levels. In addition, organizational purpose plays a fundamental role for the ‘intrinsic’ motivation of people in corporations. The international soft law on corporate due diligence further contributes to the design of corporate purpose and to the motivation of managers and employees. Once corporate due diligence is recognized by European hard law through the proposed Directive, specific obligations will arise for companies which will impact their governance and could become a source of civil liability. As a result, the corporate purpose orientation to sustainability will be reinforced by the regulation of environmental and human rights externalities and by the due diligence obligations deriving from it.
It is not often that international collaborations are sustained for any significant period, let alone for three decades. However, despite relying on largely voluntary contributions of individuals within its member institutions, the International Network of Agencies for Health Technology Assessment (INAHTA) has not only been an example of sustained collaboration over 30 years but also an example of how an initially modest collaboration can grow and thrive. Current and former serving Chairs and secretariat of the Network have come together to review network documents and outputs and reflect on the history of INAHTA, since its inception in Paris in 1993. Building on the paper from Hailey et al 2009 that documented the growth of the network after 15 years, we have considered and documented the factors that we believe have helped sustain the network and enable it to flourish in the subsequent 15 years. We have also considered the various challenges experienced along the way, as these too can aid in making a collaboration stronger. Future directions for the network have also been contemplated, given the evolving nature of HTA and the regional collaborations that have recently emerged. We hope that by sharing the lessons learned from this living example of international global collaboration relationships between like-minded organizations can be similarly fostered and enhanced into sustainable collaborations, for the benefit of all.
In political decision-making processes in Greenland, comparisons are often drawn with Denmark, Scandinavia, the Faroe Islands, and Iceland. With Greenland as a case, this article analyses a series of aspects across the societies to highlight the politics of comparisons, which are taken for granted, and to emphasise contextual conditions. Comparisons are central to cultural meaning-making and navigation with nation building strategies. We conclude that the current comparisons are significant in terms of explaining Greenland’s challenges with a vulnerable economy and with the sustainable use of natural and human resources. To utilise local resources and create a sustainable livelihood, there is a need to break from the existing trajectories based on the current politics of comparison to explore local conditions more carefully and find other models of inspiration. By developing the concept of island operation, the article unfolds distinct characteristics of the Greenlandic socio-economic structures and includes statistical data on trade, education, and the labour market to support the identification of conditions that can contribute to future analyses of Greenland’s sustainable development. This analysis has relevance for societies that share geographical and cultural conditions with Greenland and post-colonial countries that must deal with complex path dependencies to navigate towards sustainable development.
Shannon and Marshall read London alongside the city of Manchester, and the fictional town of Cranford in their chapter, which takes some of the decade’s industrial novels and examines them through the lens of sustainability. The chapter is mindful that it is in this period that industrialisation and globalisation begin to achieve the capacity that we are now seeking to control as we realise the environmental devastation of their proliferation; and that industrial success is based on a deeply unsustainable exploitation of human and natural resources. The authors argue that though Dickens and Gaskell did not have the language of sustainability that is available to us, nonetheless their work begins to recognise the costs of British trade domination. The picture is complicated by the novelists’ own dependence on the industrialisation of publishing, its increasingly necessary global reach, and the tight deadlines of the serialised novel, on which periodical publications depended.
This chapter delineates the concept, mechanism, and operational frameworks of zakat (Islamic obligatory charity) and waqf (Islamic endowment) and their potential roles in achieving health and well-being from among the Sustainable Development Goals (SDGs). The Sharia prescription of zakat originates from the Holy Qur’an, whereas the conceptual premises of waqf are derived from the Prophetic traditions (Sunnah). Zakat is obligatory once a year, and the heads of its beneficiaries are well-defined. In comparison, waqf implies a voluntary form of charity. Both zakat and waqf have a history of contribution to the socioeconomic development of communities in general and in supporting health and well-being in particular. This chapter delves into the modern relevance of waqf and zakat, particularly in the context of health and well-being of communities. The chapter attempts to contextualize the roles and significance of waqf and zakat in providing the society with the means of maintaining health and well-being.
This chapter focuses on the intersection of Islamic doctrines and environmental stewardship, drawing insights from the Holy Qur’an and Prophetic Hadith. Central to this is the narrative of humanity’s role as Earth’s stewards (Khalifah). Verses from the Holy Qur’an present nature and the environment as a divine testament worthy of conservation and protection. Complementing this, the Prophetic Hadith provides actionable guidelines on environmental ethics, encompassing conservation and ethical animal treatment. Together, they advocate for a harmonious relationship with nature, emphasizing conservation, respect, and responsible stewardship. As contemporary societies grapple with escalating ecological challenges and climatic change, these divine teachings lend themselves as a religiously congruent approach to addressing these challenges. Embracing Islamic principles can pave the way for sustainable practices, ensuring a balance between spiritual obligations and ecological responsibilities. In essence, Islamic traditions, with their rich environmental ethos, can guide societies towards a more sustainable and harmonious future.
Competition law is experiencing a transformation from a niche economic tool to a Swiss knife of broader industrial and social policy. Relatedly, there is a narrative that sees an expansive role for competition law in broad areas such as sustainability, privacy, and workers and labour rights, and a counternarrative that wants to deny it that role. There is rich scholarship on this area, but little empirical backing. In this article, we present the results of a comprehensive empirical research into whether new goals and objectives such as sustainability, privacy, and workers and labour rights are indeed endorsed in EU competition law and practice. We do so through an investigation into the totality of Court of Justice rulings, Commission decisions, Advocate General opinions, and public statements of the Commission. Our findings inject data into the debate and help dispel misconceptions that may arise by overly focusing on cherry-picked high-profile decisions while overlooking the rest of the EU’s institutional practice.
We find that sustainability is partially recognised as a goal whereas privacy and labour rights are not. We also show that all three goals are more recent than classic goals, that EU institutions have not engaged much with the areas of sustainability, privacy, and workers and labour rights, and that the Commission’s rhetoric is seemingly out of pace with decisional practice. We also identify trends that may bode for change, and we contextualize our analysis through the lens of the history and nature of the EU’s integration and economic constitution.
Free school meals (FSM) are a crucial form of support for families. This study aimed to investigate whether the FSM allowance can provide what is perceived to be, healthy, sustainable and satisfying food.
Design:
A mixed methods study incorporating co-production, citizen science and participatory approaches was conducted. Citizen scientists were given a daily budget equivalent to the FSM allowance and asked to purchase a ‘tasty, healthy and sustainable’ school lunch for a week. Alongside keeping records of available and purchased foods, young people engaged in focus groups to capture information on perceptions of food offered and FSM allowance adequacy.
Setting:
Secondary schools in Yorkshire, UK.
Participants:
Citizen scientists (n 42) aged 11–15 years across seven schools.
Results:
Obstacles were faced in obtaining sustainable and healthful meals when restricted to an FSM allowance. Reasons included restrictions in what could be purchased due to costs, limitations in the use of allowances that restricted breaktime purchases leading to hunger, inadequate portion sizes, systemic barriers like hurried lunch breaks that encourage ‘grab and go’ options and broken water fountains that led students to purchase bottled drinks. Findings were reinforced by descriptive food record data.
Conclusions:
Our findings suggest that schools would benefit from national policies to address the lack of funding, infrastructure issues and capacity to support optimal provision of food to those on FSM as well as provide greater flexibility in how pupils use their allowance. Young people verified these findings, which they presented to policymakers at a parliamentary event.
Sino-Arab Free Trade Agreements (FTAs) have remained elusive over two decades of increasing economic relations and trade negotiations. Nevertheless, substantial investments and trade demonstrate the Arab region’s strategic importance to China. Recent strategic drivers of China’s engagement with the Middle East have evolved from an original energy security focus, to more recently integrating technological investments into partnerships, such as artificial intelligence and renewable energy infrastructure—complicating progress towards an FTA. Such measures can help progress achievement of the Sustainable Development Goals and offer economic development opportunities, but negotiations may be hindered by concerns ranging from technological dependency to trade competition. Examining opportunities and challenges in the developing China–Arab relations, the article explores legal and policy obstacles and opportunities towards securing an FTA. With a focus on recent developments in AI and sustainability partnerships, the article analyses legal strategies and international law best practices for a model FTA for Arab countries.
Sustainability practices of a company reflect its commitments to the environment, societal good, and good governance. Institutional investors take these into account for decision-making purposes, since these factors are known to affect public opinion and thereby the stock indices of companies. Though sustainability score is usually derived from information available in self-published reports, News articles published by regulatory agencies and social media posts also contain critical information that may affect the image of a company. Language technologies have a critical role to play in the analytics process. In this paper, we present an event detection model for detecting sustainability-related incidents and violations from reports published by various monitoring and regulatory agencies. The proposed model uses a multi-tasking sequence labeling architecture that works with transformer-based document embeddings. We have created a large annotated corpus containing relevant articles published over three years (2015–2018) for training and evaluating the model. Knowledge about sustainability practices and reporting incidents using the Global Reporting Initiative (GRI) standards have been used for the above task. The proposed event detection model achieves high accuracy in detecting sustainability incidents and violations reported about an organization, as measured using cross-validation techniques. The model is thereafter applied to articles published from 2019 to 2022, and insights obtained through aggregated analysis of incidents identified from them are also presented in the paper. The proposed model is envisaged to play a significant role in sustainability monitoring by detecting organizational violations as soon as they are reported by regulatory agencies and thereby supplement the Environmental, Social, and Governance (ESG) scores issued by third-party agencies.
The final chapter takes a wider look at wind turbine technology in the context of a potential 100% renewable electricity supply at national or state level. The problem of intermittency is explained, together with the role of overcapacity and wind turbine power density in helping to solve it. A section on energy storage considers the theoretical storage capacity that would be needed at national level to enable wind power to serve all demand, with high level analysis using one year’s data from the UK national grid; a second case study considers the State of Texas again using measured hourly data. The potential to combine solar and wind power is examined for both case studies, in proportions so as to minimise the energy storage requirement. The economics of a wind/solar grid with storage are explored with LCOE analysis, and the results discussed in the context of different storage technologies, with a range of installed costs. The final section examines the sustainability of wind turbine manufacture, decommissioning, and disposal, with examples of new technology to reduce associated CO2 emissions. These include decarbonised steel production, recyclable blades and wood laminate towers.
We present two examples of how the environmental humanities have built bridges with governments and made effective policy interventions. Lessons can be drawn about how public humanities can help develop social and cultural understanding and societal resilience.
The Indus civilization in South Asia (c. 320 – 1500BC) was one of the most important Old World Bronze Age cultures. Located at the cross-roads of Asia, in modern Pakistan and India, it encompassed ca. one million square kilometers, making it one the largest and most ecologically, culturally, socially, and economically complex among contemporary civilisations. In this study, Jennifer Bates offers new insights into the Indus civilisation through an archaeobotanical reconstruction of its environment. Exploring the relationship between people and plants, agricultural systems, and the foods that people consumed, she demonstrates how the choices made by the ancient inhabitants were intertwined with several aspects of society, as were their responses to social and climate changes. Bates' book synthesizes the available data on genetics, archaeobotany, and archaeology. It shows how the ancient Indus serves as a case study of a civilization navigating sustainability, resilience and collapse in the face of changing circumstances by adapting its agricultural practices.
Diet indices are quantitative assessments of the quality of population intake. Understanding diet quality is crucial to support health and well-being; however, knowledge of diet quality across racial groups is limited. To examine diet quality of acial groups ‘White’, ‘Black’, ‘Asian’, and ‘Other’ in the United Kingdom (U.K.) and United States (U.S.), U.K. and U.S. national survey data were used to calculate Alternative Healthy Eating Index (AHEI-2010), Diet Quality Index-International (DQI-I), and EAT-Lancet scores. ANCOVA tests compared median total quality scores across racial groups adjusting for covariates. Kruskal–Wallis tests examined differences in individual component scores. Spearman correlations identified association of diet quality scores across indices. Highest diet quality scores were reported for U.K. and U.S. Asian groups. Most noticeable differences were apparent between U.S. Asian and White/Black groups (62% Asians within highest tertile of AHEI-2010 score vs. 29% Whites; P < 0.001). All racial groups demonstrated poor diet quality in terms of sustainability; EAT-Lancet scores were <40% of maximum total score for U.S. White, Black, and Other groups. AHEI-2010 diet quality scores were moderately associated with EAT-Lancet scores, evident across all groups (r = 0.53–0.65; P < 0.001). There is a need for all groups to increase intake of wholegrains, especially Black groups (mean Wholegrain score for U.S. Black group within DQI-I was 0.60 (maximum score of 5)) as demonstrated within AHEI-2010, DQI-I, and EAT-Lancet component scores. Additionally, increased intake of vegetables and legumes and decreased intake of processed and red meat would improve the adequacy, healthiness, and sustainability of U.K. and U.S. racial diets.
We analyze the disclosures of sustainable investing by Dutch pension funds in their annual reports by introducing a novel textual analysis approach using state-of-the-art natural language processing techniques to measure the awareness and implementation of sustainable investing. We find that a pension fund's size increases both the awareness and implementation of sustainable investing. Moreover, we analyze the role of signing a sustainable investment initiative. Although signing this initiative increases the specificity of pension fund statements about sustainable investing, we do not find an effect on the implementation of sustainable investing.
Edited by
Ottavio Quirico, University of New England, University for Foreigners of Perugia and Australian National University, Canberra,Walter Baber, California State University, Long Beach
Can ‘digitalisation’ (the process of running business through procedures that take place in digital format) contribute to the green transition? If so, to what extent? The European Union (EU) has recently embraced the idea of synergically combining climate policies and digitalisation, whereby the digital transformation becomes a key tool to achieve net zero carbon emissions. Arguably, while there are manifold advantages in improving, for instance, energy distribution via smart grids, digitalisation also contributes to greenhouse gas emissions. It is therefore necessary to strike the right balance and understand how to best harness digitalisation to implement the green transition. Notably, it is essential that the EU monitor the impact of digitalisation on the overall energy demand to avoid an excessive increase in energy consumption. Arguably, the EU can profitably couple a holistic embracement of digitalisation as the panacea to climate challenges with a ‘learn-by-doing’ approach, setting a variety of real-world experiments across supply chains to test the viability of its digital policy, in close collaboration with stakeholders.
The concept of agro-sustainability is presented and discussed. The paper shows that sustainable farming practices, sustainable development and the preservation of biological diversity require adequate valorization of local biodiversity. Special emphasis is given to neglected and underutilized crop species. The role and importance of these plants, including primitive wheat, wild anise, food legumes, several vegetables and forage legumes in southern Italy is presented. Each case is presented as an example of cultivation linked to different aspects of utilization, conservation, genetic erosion, and of their potential for sustainable agriculture.
In the past decades, a backlash against globalization has been brewing, especially in advanced economies. Despite this backlash being only partly determined by trade, we observe an increasing demand for transparency on procedures, methodologies, and results. Impact assessments (IAs) aim at identifying expected effects of trade agreements and at highlighting policymakers' concerns, thus representing an important tool to foster public acceptance. To help us identify spillovers of trade liberalization, we construct a country and sector-specific database of impact assessments. This database provides an overview of the evolution of the coverage and methodological approaches taken by the EU and US for their IAs. We rely on official EU and US sources over the period 1990–2023. We first observe differences in terms of methodology and institutional framework within and between the two regions. Secondly, the coverage of non-trade outcomes has evolved over time both for the EU and the US, with the inclusion of more labour, environmental, and human rights indicators as well as cross-cutting issues. We observe that the depth of the evaluation is correlated with the partner country's social protection and environmental performance. Lastly, we find that the inclusion of a sector in the analysis is driven by economic reasons in the EU but by political reasons in the US.
Health technologies play a relevant role in environmental sustainability (ES). However, limited evidence exists on approaches and methods to integrate ES into the Health Technology Assessment (HTA).
Objectives
The purpose of this study is: (i) to provide an overview of global HTA organizations’ progression toward the integration of ES into HTA; (ii) to investigate various paths for this integration, highlighting obstacles, priorities, potential approaches, and methods.
Methods
Data were collected via questionnaires from organizations belonging to HTA networks, International Network of Agencies for Health Technology Assessment, and European Network for HTA. To complement the results of the survey, the authors carried out a desk analysis with strategic documents available on institutional websites.
Results
The survey included twenty-six respondents from twenty different countries (thirty-three percent response rate). Among the study’s participants, there is a notable acknowledgment of the importance of integrating ES into HTA. However, only nine organizations are actively engaged in these integration efforts, each employing unique methodologies and perspectives. There is a substantial consensus on the application of life cycle assessment, with a particular emphasis on the use of environmentally extended input–output analysis, and a stronger preference for cost-utility analysis. Nevertheless, evidence on integrating ES into HTA remains scarce. Major challenges identified include data collection difficulties and the necessity for interdisciplinary teams.
Conclusions
Our study represents a preliminary effort to systematize initiatives aimed at integrating ES into HTA. Further research is required to customize methods and tools for appropriately evaluating the environmental impacts of technologies. The findings suggest that achieving ES-HTA integration demands a multi-tiered, interdisciplinary approach.