ISINI 2018, 30-31 AUGUST 2018 – PRELIMINARY PROGRAMME

    Location of conference sessions – WSB University in Wrocław, ul. Fabryczna 29-31, 53-609 Wrocław, Building B, MBA zone (first floor)

    Wednesday 29.08.18

     

    19:00

    Welcome drink and dinner - Targowa - Craft Beer and Food, Piaskowa 17, 50-158 Wrocław

    Thursday 30.08.18

     

    08:00-09:00

    Registration of participants

    MBA zone

    09:00-09:30

    Welcome words

    ISINI president, Joost Platje, WSB University in Wrocław (Poland)

    CEVI vice-president, Mehmet Baha Karan, Hacettepe University, Ankara (Turkey)

    Vice-rector of WSB University in Wrocław, Jacek Mercik, WSB University in Wrocław (Poland)

    09:30-10:00

    Key note speech 1 - Jeffrey Harvey, Netherlands Institute of Ecology / Free University of Amsterdam (The Netherlands), “Bridging the Consensus Gap on Climate Change: why it exists, and what must be done”

    10:00-10:30

    Key note speech 2 - Andries Nentjes, Edwin Woerdman, University of Groningen (The Netherlands), “Energy Transition in Europe: how low-carbon innovation outruns climate policy”

    10:30-10:45

    Coffee break

    MBA zone

    10:45-11:15

    Key note speech 3 - Wim Lambrechts, Open University of The Netherlands, “Higher Education, Sustainability, and Democracy in Crisis”

    11:15-11:45

    Key note speech 4 - Jarl Kampen, University of Antwerp (Belgium), “Do We Really Want A Social Science That Works?”

    11:45-12:15

    Key note speech 5 - Joost Platje, Markus Will, WSB University in Wrocław (Poland), University of Applied Sciences Zittau/Görlitz (Germany), “An instrument for education for sustainable development – an experimental case study”

    12:15-13:15

    Lunch

    MBA zone

    13:15-14:30

    Climate Session I: Climate Technologies and Governance
    6. Margot Hurlbert
    , University of Regina (Canada), “CCS Technology: The Governance Challenges of Cooperative Approaches to Decarbonisation”

    7. Erwin Hofman, JIN Climate and Sustainability, The Netherlands), “Enhancing Ambition Levels in Nationally Determined Climate Contributions – Learning from Technology Needs Assessments?”

    8. Olivia Woolley (University of Aberdeen, Scotland), “Ecological Contradictions of the International Climate Change Regime”

    CEVI session 1

    9. Volkan Alacam, Mustafa Gozen: Energy Market Regulatory Authority, Electricity Market Department (Turkey), “Key Driving Factors of Electricity Price Risk: Evidence from Turkey

    10. Wietze Lise, AF Mercados EMI, Energy Markets Division, Ankara (Turkey), “Energy Security in Natural Gas in Europe”

    14:30-14:45

    Coffee break

    MBA zone

    14:45-16:15

    Climate Session II: Climate Instrument Implementation

    11. Matías Guiloff, Ignacia Muñoz, Diego Portales University (Chile), “Creating Markets to Mitigate Greenhouse Gas Emissions: Lessons from the Chilean Solar and Wind Revolution

    12. Kars de Graaf, Hanna Tolsma, University of Groningen (The Netherlands), “Towards a Dedicated Climate Act in the Netherlands: Sound Legal Reasoning or Symbolic Legislation?”

     13. Yoram Krozer, University of Twente (The Netherlands) “Valorisation on energy markets”

    University Transition 1

    13. Ynte K. van Dam, Wageningen University (The Netherlands), “Teaching Marketing Sustainably”

    14. Aleksandra Pleśniarska, Cracow University of Economics, Poland, “Quality education in the aspect of sustainable development in the European Union – strategic framework and goals”

    16:15-16:30

    Coffee break

    MBA zone


    16:30-18:00

    Climate Session III: Climate Activism and Populism

    18. Florian Stangl, Johannes Kepler University Linz (Austria), “Judicial Climate Activism in Austria: A Disservice to Climate Protection?”

    19. David Driesen, Syracuse University (USA) , “Toward a Populist Political Economy of Climate Disruption”

    20. Anna Dubel, AGH University of Science and Technology, Cracow (Poland), “Costs and benefits of climate adaptation policy options in cities”

    Markets, money and democracy 1

    21. Niek Stam, Wim Westerman, University of Groningen (The Netherlands), “Accounts Receivable Overdue and Market Dynamics: A case study”

    22. Izabela Schiffauer, WSB University in Wrocław (Poland), “Economic Actors and the Problem of Externalities: How the Markets Contribute to Democratic Backsliding”

    23. Michał Głowacki, University of Białystok (Poland), “Sustainable infrastructure – a challenge for public-private partnership model”

    19:00-21:00

    Dinner – Vega Bar Vegański, Rynek 27 a, Wrocław.

    Vega was established in 1987 as a vegetarian restaurant. It is located at the market square. This makes it after dinner possible to enjoy the evening in the city center.

    Friday 31.08.18

     

    09:00-10:45

    Markets, money and democracy 2

    24. Johan van Ophem, Wiebe Jelsma, Wim Heijman, Wageningen University (The Netherlands), “Happiness in the European Union. The Czech republic compared with the Netherland in the 2004-2016 period”

    25. Hans Visser, Free University of Amsterdam (The Netherlands), “Islamic economic ethics superior?”

    26. Ingrid Roos, Independent scientist (The Netherlands), “The Spinoza revival in the Netherlands in the second part of the nineteenth century”

    CEVI session 2

    27. Halit Gonenc, Oleksandr Lebediev, Wim Westerman, University of Groningen (The Netherlands), “The Financing Decision of Oil and Gas Companies: the role of country level shareholder protection”

    28. Yilmaz Yildiz, Mehmet Baha Karan, Hacettepe University (Turkey), “Corporate Cash Holdings in European Oil and Gas Producers: The role of energy directives”

    29. Benedict Kuhenga Mahona, Institute of Finance Management, Dar es Salaam (Tanzania), Bartjan W. Pennink, Jesse Dümmer, University of Groningen (The Netherlands), “Development and Regulation of Local Energy Firms in Tanzania: The case of Natural Gas Industry”

    30. David Slim Zepeda, University of Sonora, Hermosillo (Mexico), “Energy efficiency: the path towards Corporate Social Responsibility (CSR) and the Sustainable Development Goals 2030”

    10:45-11:00

    Coffee break

    MBA zone

    11:00-12:30

    University Transition 2

    31. Monika Paradowska, University of Wrocław Poland), “Contribution of rivalry and excludability to positive transport externalities in the context of campus sustainability”

    32. David Slim Zepeda, University of Sonora, Hermosillo (Mexico), “A fragility approach to teaching sustainable development – a research agenda”

    33. Diana Rokita, Łukasz Mach, Opole University of Technology (Poland), “Some mesoeconomic consequences of changing number of students in higher education in Polish academic cities”

    34. Olga Okrzesik, AGH University of Science and Technology, Cracow (Poland), “The role of SME’s in the economic development of the region”

    CEVI session 3

    34. Nermin YAŞAR, Çankaya University, Ankara (Turkey), Erdinç TELATAR, Okan University, Istanbul (Turkey), ”Stochastic Futures of Renewable Energy Consumption: evidence from the Commonwealth of Independent States”

    36. Sıdıka Başçı, Yıldırım Beyazıt, Ankara, Turkey, Graduate School in Computer Sciences and Mathematics Engineering, EISTI, Paris, France, Econometric Research Association, ERA, Ankara (Turkey), Sarkhan Piriyev, Yıldırım Beyazıt University (Turkey), “The Curse of Energy on Small and Medium Sized Enterprises in Azerbaijan: is this an unavoidable destiny?”

    12:30-13:30

    Lunch

    MBA zone

    13:30-14:30

    Climate Session IV: Scientific Debate and Policy Advice

     

    Interactive debate among all ISINI Conference participants on:

    ·         How to make the Paris Agreement work?

    ·         What would you advice climate policy negotiators at COP24 December 2018?

    ·         How to improve climate policy: what should be done?

              The role of energy in climate policy?

    ·         The role of universities in climate policy?

    14:30-15:00

    Conference summary and ISINI meeting

    15:30-18:30

    Guided tour of the historical city centre of Wrocław

        

    ISINI 2018, 30-31 AUGUST 2018 – Abstracts

     

    1. Andries Nentjes, Edwin Woerdman, University of Groningen (The Netherlands), “Energy Transition in Europe: how low-carbon innovation outruns climate policy”

    Assessment of the performance and Prospects of the transition of the EU from a fossil fuel-based economy to a low carbon economy over the period 2oo5 to 2015, with a focus on fuel-intensive industry and road transport. We argue that clean energy technologies are on a hunt to undercut the costs of the old fossil fuel-based technologies. The more successful the entrepreneurial ventures in innovation in energy technology will be, the more the emerging energy transition is going to be market driven, manoeuvring EU climate regulation into a position of following the options generated by the market instead of commanding and controlling energy technology.

    2. Wim Lambrechts, Open University of The Netherlands, “Higher Education, Sustainability, and Democracy in Crisis”

    Within the current timeframe, characterized as the ‘post-truth age’, one cannot deny that democracy is in crisis, and critical questions emerge concerning the role of higher education for sustainability in such a context. Despite growing academic contributions on different aspects of Higher Education for Sustainable Development (HESD), the field is in need of theoretical and philosophical grounding. This is observable in the discourse concerning sustainability competences, in which different (normative, instrumental, conceptual) interpretations have been mixed up, leading towards a blurry discussion. It resulted in a questionable integration of such competences, often combined with conservative educational structures and lacking a true holistic approach. Furthermore, the role of higher education in society needs consideration, referred to as the transformative approach to prepare students as active citizens in democratic societies.

    3. Jarl Kampen, University of Antwerp (Belgium), “Do We Really Want A Social Science That Works?”

    The apparent fissure in social science between qualitative and quantitative approaches to research, suggests a lack of consensus on philosophy, mode of inquiry, and data collection methodology. It is explained how commonly denominated thought in social science really is, and why mainstream thought in the social sciences cannot be expected to generate a social science that works.  Furthermore, the expectation that the entire field will be taken over in a matter of years by social physics and knowing capitalism is a myth. The social sciences can only become successful as a discipline when a demarcation is made between (scientific) theory and knowledge. Consensus among scientists is a necessary but insufficient condition for a theory to become knowledge (in particular for theories that speak exclusively of language dependent reality). The validation structure of scientific theories will have to show the connection between the theory and language independent reality (the material world). This is routine in the natural sciences, and near-taboo in the social sciences. But do we really want a social science that works?

    4. Joost Platje, Markus Will, WSB University in Wrocław (Poland), University of Applied Sciences Zittau/Görlitz (Germany), “An instrument for education for sustainable development – an experimental case study”

    An initial plan for a research project, combining questionnaire research and teaching, has been developed at the WSB University in Wrocław (Poland), in co-operation with scientists from the University of Applied Sciences Zittau/Görlitz (Germany) and the University of Sonora (Mexico). While the questionnaire research can provide interesting scientific material as such, it can also be developed into a teaching instrument. After a preparation period of 2 years, where different elements of the project were consulted and developed in co-operation with business, scientists and students, in spring 2018 a preliminary case study was conducted at the WSB University in Wrocław. New elements related with a fragility approach to sustainable development were introduced into a course on transport economics in the Logistics Department. The students had to fill out a questionnaire at the beginning of the course, expressing their opinions on different issues. At the end of the course, a short control questionnaire was filled out, in order to check whether something had changed in the opinions of the students. As a control group, a questionnaire was carried out at 4 other universities (University of Wrocław, WSB University in Opole, Opole University, Opole University of Technology). The total sample size was 804. The whole questionnaire will be repeated next year, in order to check whether eventual changes are permanent. At the beginning of the academic year 2018/2019, a similar project will start at the University of Sonora (Mexico).

    Climate Session I: Climate Technologies and Governance

    5. Margot Hurlbert (University of Regina, Canada), “CCS Technology: The Governance Challenges of Cooperative Approaches to Decarbonisation”

    Many climate mitigation scenarios to limit our world to 450 ppm of carbon in the atmosphere and maintain global warming below 2 degrees Celsius cannot be accomplished with slow incremental change, but rely on a combination of new technology including CCS (Scott et al. 2004; den Elzen 2008; Koelbl 2014), renewable, and to a lesser extent nuclear (Tavoni et al. 2012), although there are contrary opinions (de Coninck et al. 2014). Several authors conclude that carbon emissions will have to be phased out at unprecedented levels unless CCS and bio-energy CCS are utilized (Blanford et al. 2014; Kanudia et al. 2014). Successful CCS development has been sparse, and far less than anticipated when the IPCC endorsed it as one of several technologies supporting a lower carbon future (Choptiany et al 2014). Many consider CCS technology as an emerging, new technology of which public acceptance has been at issue (Markusson et al. 2011) and a barrier to implementation. Governance and specific policy instruments also have inhibited its deployment (Dixon 2016). Although a solid carbon price and market would encourage the deployment of CCS, cooperative approaches of knowledge sharing and technology transfer are also important.

    Using principles of adaptive governance, and assessing the state of current climate change policy instruments at the national and international level, policy recommendations are made for achieving decarbonisation and a low emission pathway to address the existing and operating carbon intensive power production emissions. This analysis and recommendations deal specifically with principles of accountability, transparency and monitoring with specific analysis of internationally transferred mitigation outcomes (ITMOs) pursuant to Article 6 of the Paris Agreement. Adaptive governance, and its principles of citizen engagement and social learning through adaptive management, is an ideal framework to both analyze the current state of low emission policies and build policy platforms for future pathways.

     

    6. Erwin Hofman (JIN Climate and Sustainability, the Netherlands), “Enhancing Ambition Levels in Nationally Determined Climate Contributions – Learning from Technology Needs Assessments?”

     Under the Paris Agreement, countries are to develop nationally determined contributions (NDCs) every five years, outlining their climate targets and plans. In order to ease this task, countries may use the experiences with the Technology Needs Assessment (TNA) programme. In this presentation, lessons with TNAs since 2001 are described, and it is discussed how countries, with a focus on developing countries, may use these lessons in strengthening and implementing their successive NDCs. While some developing countries have already used the results of their TNA process in their NDC development, countries could benefit from following the TNA process, its stakeholder involvement, and the MCDA methodology, to strengthen their NDCs. Countries face challenges in their NDC with regard to the embedding of the contribution into the national development strategy, getting from plans to implementation, and the mobilisation of finance. Through the positive and negative experiences with TNAs, countries can overcome these challenges. It is argued that all countries can use the TNA or parts thereof in their NDC process. For developing countries (mainly LDCs and SIDS) the TNA is useful for capacity building, strategy development, and the preparation of projects for investment with international support. Emerging markets and newly-industrialised countries can use the TNA as a participatory approach for strategy development. Developed countries generally do not need the entire TNA process, but the participatory approaches and MCDA can be used to fine-tune modelled strategies.

     

    7. Olivia Woolley (University of Aberdeen, Scotland), “Ecological Contradictions of the International Climate Change Regime”

    The article looks critically at provision for preserving ecosystem functionality in the face of global warming under the international climate change treaties. It finds that they lack key components, most notably a headline goal guiding parties to preserve ecosystems and associated mechanisms for reducing anthropogenic pressures on them, which analysis of climate change as an ecological problem suggests that instruments seeking to combat this would need to possess.  As a result, parties’ efforts to conserve and enhance carbon sink functions and to adapt to climate change are likely to be undermined by the lack both of an ecological context for climate change mitigation and of requirements to reduce anthropogenic interference with and disturbance of ecosystems in other respects.  Conclusions drawn from the analysis are used to propose a legal research agenda for exploration of how the international climate change regime’s effectiveness for preventing ecologically harmful climate change could be enhanced, particularly by further development of the legal regime for climate change adaptation as it is conceptualised under the Paris Agreement.

     

    CEVI session 1

     8. Volkan Alacam, Mustafa Gozen: Energy Market Regulatory Authority, Electricity Market Department, “Key Driving Factors of Electricity Price Risk: Evidence from Turkey

     Supply and demand imbalances and price fluctuations occur in the electricity market because of a number of factors such as increasing energy demand and transmission constraints. As a result of price fluctuations, the electricity price risk emerges. The structure of volatility in electricity prices is an important explanatory information. Understanding the volatility in the electricity price is important to manage the price risk. In real time, electricity customers can be faced with price changes of over 100% within a few hours. To reduce the high volatility in the price, regulators or governments are trying to increase the network and storage capacity and use capacity reserves. Hourly price fluctuations that may occur during the day in electricity prices are the most concrete indication of the price risk.

    In this context, the volatility in electricity prices and major driving factors of the electricity price risk in Turkey are examined. Therefore, the main purpose of this paper is to introduce the market reforms in Turkish electricity market and then analyse the key drivers of electricity price risk in the organised wholesale market from 2001 to 2014.

     

    9. Wietze Lise, AF Mercados EMI, Energy Markets Division, Ankara, Turkey, “Energy Security in Natural Gas in Europe”

     The European Commission (EC) has acknowledged for several years the importance of securing in the long run its increasing gas demand from supplies from a limited neighboring countries and regions. This also includes the infrastructure of gas and electricity markets and gas corridors with key suppliers. In addition to the public goal of gas availability, the affordability of getting the resource at the end-consumer is a concern as well.

    This paper focuses on the assessment of the required gas supply infrastructure for connecting the EU markets with its key gas suppliers in Russia, South East Europe, Middle East and North Africa as well as with other LNG sources in the future and their timing.

    In this paper, we assess first the gas infrastructure up until 2030 and next potential economic and geopolitical barriers that might hamper the implementation of optimal gas corridors and finally we propose recommendations for EU policy and regulation. We find that both uncertainty regarding future policy and regulation applicable to the investment as well as co-ordination issues surrounding the investment negatively contribute to energy corridor investment issues. A larger role for EU coordination on development of a common gas infrastructure regulatory framework is suggested.

    The results of the paper provide useful insights in gas infrastructure requirements connecting the EU gas markets with our key suppliers and resulted in a EU report in support of the Commission.

     

    Climate Session II: Climate Instrument Implementation

     

    10. Matías Guiloff, Ignacia Muñoz (Diego Portales University, Chile), “Creating Markets to Mitigate Greenhouse Gas Emissions: Lessons from the Chilean Solar and Wind Revolution

     Our main argument in this paper is that, because it removed an entry barrier that was adversely affecting investment in renewable generation projects and thereby created a sub-market where this energy can be traded, the tipping point that produced the Chilean solar and wind energy revolution was the regulator’s decision to alter the terms of the energy supply contract tenders. If such an alteration was indeed crucial, there are two implications that follow for global climate change regulation. The first is that decisions that have the effect of increasing general welfare, as removing an entry barrier for making a technology more competitive, can help to reduce GHG emissions. As to the second, it is that in order to be able to determine what decision to take, and then to be able to actually take it, private-public collaboration might be of significant aid.

    11. Kars de Graaf, Hanna Tolsma (University of Groningen, Netherlands), “Towards a Dedicated Climate Act in the Netherlands: Sound Legal Reasoning or Symbolic Legislation?”

     In the Netherlands the government is working on two relevant and innovative legislative projects in the field of climate change regulation. The first is the Environment and Planning Act (hereafter EPA) that will fundamentally change the structure of all of Dutch environmental law. This act has been adopted but will not enter into force before 2021. One of the main reasons for the idea of a fundamental change is that current and future challenges concerning the use and protection of the environment, including climate change, cannot be tackled effectively using the current legal instruments, which are scattered all over a large range of statutory regulations. The idea is that the transition towards a sustainable society requires a structural change. The second innovative legislative project is the dedicated Climate Act proposed by several Members of Parliament. The legislative proposal has been inspired by the Climate Act in the UK and provides for a legislative framework for the way in which the Dutch climate policy will implement the 2015 Paris Agreement. It has gained momentum because of the so-called Urgenda Decision; a verdict of the Dutch district court in The Hague that ordered the State to cut CO2 emissions by 25% by 2020 compared to 1990 emissions. The act proposes an objective to reduce greenhouse gases by at least 55 percent by 2030 compared to 1990, and by 2050 by at least 95 percent compared to 1990.

    In our paper we will focus on the reasons for introducing a dedicated Climate Act next to the new Environment and Planning Act from a legal perspective. Are relevant new legal instruments being introduced? We will also compare the proposed Dutch Climate Act with the UK Climate Act from that perspective. Furthermore we will assess whether and if so, in what way, the new Environment and Planning could serve as a sufficient alternative for introducing a dedicated Climate Act. The paper will therefore weigh existing and proposed legal instruments of climate change regulation from a legal (instrumental) perspective in order to assess whether introducing a dedicated Climate Act in the Netherlands to implement the Paris Agreement is sound legal reasoning or symbolic legislation.

    12. Yoram Krozer, University of Twente, The Netherlands “Valorisation on energy markets”

     The paper discusses the global substitution of relatively costly renewable energy for fossil fuels that are lower in costs. The cycle of low and high fuel prices 1990 – 2015 and high fuel prices 2005 – 2015, all in in USD2005, is covered with statistical data. The share of total renewable energy in aggregate energy consumption grew slowly to 18%. In that period the share of the cheapest resource, being hydropower, decreased, while the share of the most costly modern types of renewable energy - geothermal, wind and solar - grew with percentages varying from an annual 12% to 1.5%. The decarbonisation of energy production can be partially explained by a combination of high fossil fuel prices, cost-reducing technological change and policy support.

    Energy services from renewable resources also add qualities that are perceived as valuable by consumers because they generate convenience, autonomy and suchlike private benefits. Next to that they generate the public benefits of jobs and safety in communities. The value addition in electricity services during 2005 – 2015 in the US and EU is assessed. The purchase prices of energy resources decreased and the sales prices of electricity to households increased along with larger deliveries. In effect, the value added grew by on   average 2.0% in the US and 2.8% in the EU, equivalent of yearly increase by USD2005 2 billion and USD2015 6 billion respectively. That additional value is an incentive for innovations in modern renewable energy production.

    Estimates on fourteen countries above 100 million citizens and worldwide, the EU considered as if a country, are that the electricity generates spin-off in economies and renewable energy generates value in countries with full access to electricity. Extrapolation of the annual average growth during 1990 – 2015 onto 2015 – 2040 with substitution of renewable energy for fossil fuels reveal that the global income can increase fourfold and energy consumption twofold along with about 100 times larger modern renewable energy. The CO2 emissions can be reduced to 46% of the 2015 level, i.e. 15% below 1990. If the substitution rate decreases in a   linear way by two-third in 2040 renewable energy can grow tenfold and CO2 emissions can decrease to 78% of 2015. Modern renewable energy enables mitigation of climate change if policy fosters changes.

    University Transition 1

    13. Ynte K. van Dam, Wageningen University (The Netherlands) “Teaching Marketing Sustainably”

     Sustainability is becoming increasingly important for MBA and academic marketing programs – while at the same time being almost anathema to marketing management. Teaching marketing sustainably requires stepping back from the universal thesis that marketing is an ubiquitous global discipline, and reflecting critically on the contextual embeddedness of markets and market actors. A systems approach to marketing in which market behaviour and marketing goals are defined relative to a wide range of latent and manifest stakeholders can make MBA students reflect on the social and ecological sustainability of their company. This systems approach also forces researchers to reflect on the social conventions and institutions that legitimise and justify non-sustainable strategic choices in companies.

    14. Aleksandra Pleśniarska, Cracow University of Economics, Poland, “Quality education in the aspect of sustainable development in the European Union – strategic framework and goals”

    Purpose: The aim of the article is to attempt to identify and discuss the most important European initiatives and strategic framework supporting the 2030 Agenda for Sustainable Development. This paper also tries to present an overview of progress towards the 4 Sustainable Development Goal (quality education) mainly in tertiary and adult education in the EU context.

    Design/Methodology/Approach: The adopted research method includes a literature survey, a study of law regulations and strategic European documents and their critical analysis. The main axis of empirical investigation is a comparative analysis. Subject scope of the analysis covers 28 EU member countries. Object scope of the analysis embraces significant indicators such as tertiary educational attainment, employment rate of recent graduates, adult participation in learning in many aspects e.g. gender disparities.

    Findings: It seems that the results of the analysis confirm the diversity between member states in achieving the goals of sustainable development. It can be possible to observe overall positive trends in the development of the quality education in the European Union. However, the gender gaps in tertiary educational attainment and in the employment rate of recent graduates have been widening. It also seems that the EU is not on track to meet its 2020 benchmarks for adult participation in learning.

    Value: The article systematizes knowledge of European initiatives for sustainable development and supplements it with a comparative analysis in the field of statistical data, which allows to understand better the state and the prospects of implementing the idea of quality education at the EU level.

    15. David Slim Zepeda, University of Sonora, Hermosillo (Mexico), “A fragility approach to teaching sustainable development – a research agenda

    The author will present ideas for a PhD research, and expresses the hope for constructive critique and feedback. A theoretical model as well as outline of the ideas for empirical research will be presented.

     

    Climate Session III: Climate Activism and Populism

     

    16. Florian Stangl (Johannes Kepler University Linz, Austria), “Judicial Climate Activism in Austria: A Disservice to Climate Protection?”

     In February 2017, the Austrian Bundesverwaltungsgericht (Federal Administrative Court”) gave a highly controversial decision in the so-called “Dritte Piste” case. The court repealed the construction permission for a third runway at the Airport Vienna, granted by competent authority several years before. Remarkably, the court based its decision primarily on the increasing greenhouse gas emissions in international aviation and the effects on global warming. It was the first time that an Austrian court refused to approve an infrastructure project on grounds of climate protection. The judgment caused an outcry throughout the political establishment, the legal community and the media alike: May a court block a project of essential importance for the economic development in a whole region merely because of “green” considerations? In my presentation I will show an inherent risk of judicial climate activism: progressive judgments could lead in the end to a weakening of environmental protection rules.

     

    17. David Driesen (Syracuse University, USA), “Toward a Populist Political Economy of Climate Disruption”

    Most academic thinking about the political economy of climate disruption focuses on what one might call the political economy of compromise. This idea, grounded in public choice theory, posits that one must craft policy proposals sufficiently appealing to special interests and the politicians who support them to pass. This idea underlies academic support for emissions trading based on grandfathering, as it is thought to appeal to industry (because it is inexpensive and flexible) and environmentalists (because it limits emissions). It also was once thought capable of satisfying pro-regulation Democrats as well as market-loving Republicans in the United States.

    This paper advancing an alternative vision of political economy: call it a populist political economy. Climate policies might be crafted to attract active support from people and entities not normally involved in climate policy debates, because it offers significant non-climate benefits chosen to generate votes in elections. This idea might be valuable in the United States, where ideological opposition to climate policy has defeated the political economy of compromise nationally but populism is on the rise. Because the United States emits more greenhouse gases than any country in the world, save China, generating progress in the United States is globally important. Populism in other countries has gained steam, and if populist leaders start opposing cooperation on addressing climate disruption, thinking about a populist political economy may matter in other countries.

    This paper draws heavily on the teachings from successful climate policies in countries around the world. As it happens, the world's most successful climate policies, such as France's nuclear policy and Germany's feed-in tariff, deliver very significant non-environmental benefits. They are based on what one might call a political economy of multiple benefits, rather than a political economy of compromise. The paper reveals that some policies based on a political economy of multiple benefits have furthered populist interests and provide precedent for crafting populist climate policies.

    This paper will focus on the idea of a carbon tax with revenue devoted to popular priorities, (as opposed to environmental protection or deficit reduction) to illustrate populist political economy's potential. It will discuss how to identify priorities sufficiently appealing to voters to motivate displacement of recalcitrant politicians.

    18. Anna Dubel, AGH University of Science and Technology, Cracow (Poland), “Costs and benefits of climate adaptation policy options in cities”

    Climate change related impacts, including heatwaves, flash floods, health problems, etc., are becoming visible in the cities worldwide. Cities are vulnerable to climate change therefore the climate adaptation becomes necessity in densely populated places. At the same time cities contribute to the climate change and there is a lot of possibilities in the cities to mitigate the climate change. The analysis of possible climate change impacts in the cities under different climatic conditions is presented, based on literature review. The detailed analysis is performed based on the examples of two polish cities. Case studies of climate adaptation policy options to respond to these changes are presented. The categories of costs and benefits of chosen climate adaptation policy options possible to implement in the cities are defined and the examples of their valuation are shown. The results present the net costs of chosen climate adaptation policy options in the analyzed cities. These costs could be reduced, as effective mitigation policies would decrease the pressure on adaptation efforts. Therefore, the climate change mitigation policies in the cities should be planned and integrated with their adaptation policies, as there are relations between both policies, which were defined within the performed analysis.  

    Markets, money and democracy 1

     19. Niek Stam, Wim Westerman, University of Groningen (The Netherlands), “Accounts Receivable Overdue and Market Dynamics: A case study”

    This study investigates how market dynamics influence accounts receivable (specifically overdues) and how lessons learned can help to improve receivables management. The research strategy is characterised as a single case study with design elements at two country units of a company to be named FEED. The classification and overview of relevant market dynamics provide valuable insights for determinants and intercompany differences in receivables, and whether these arise at the country or market level. The findings suggest adjustments of the literature in that the interest rate is currently not a relevant factor. Moreover, instead of focussing on costs of capital, an emphasis on default risk is more applicable nowadays, and hence researchers should focus on overdue instead of on receivables in general. Consequently, this case study depicts a shift of working capital management away from financial risk towards operational risk. After some modifications, its results can be utilized in other units, companies and industries as well.

     

    20. Izabela Schiffauer, WSB University in Wrocław, Poland, “Economic Actors and the Problem of Externalities: How the Markets Contribute to Democratic Backsliding”

     Modern democratic systems constitute themselves typically as social market economies, where the potentially adverse effects of the liberalized market should be counterbalanced by regulatory and mitigated by social policy instruments, with the latter aimed at protecting the weaker individual or entity. Since the rise of neoliberalism the commitment of contemporary states to this theoretical model of social policy varies significantly depending on the condition of their public finances and/ or political choices invoking more or less objective factors. At the same time a general trend of national governments’

    curtailing social welfare instruments may be observed, further exacerbated in the context of the recent financial and sovereign debt crisis. The main contention of this contribution is that the impact of global financial crises goes beyond challenges to the European welfare states. The limited or absolute lack of accountability of the agents that induce such crises is undermining the basic principles of the rule of law (Stiglitz 2015). Ever growing inequalities in contemporary societies and their subordination to economic interests of the few result in the emergence of extremisms and, in end effect, in democratic backsliding (cf. Jesse and Thieme 2011: 479). Against this backdrop, the author will attempt to discuss the problem of uncontrolled externalities produced by economic actors, and potentials of counterbalancing them through measures re-embedding the market within the society and its institutions (cf. Ashiagbor 2013 in relation to neo-Polanyians theory), including the regulatory autonomy of public authorities at national and transnational level.

     

    21. Michał Głowacki, University of Białystok, Poland, “Sustainable infrastructure – a challenge for public-private partnership model”

    The development of infrastructure that corresponds the needs of the society is considered as one of prerequisites for propelling economic growth and the improving the general level of prosperity that could enable eradication of poverty and social exclusion. The issues connected with infrastructure development are also perceived as key to environmental protection, particularly in the context of climate change. As a part of the debate global trends in infrastructure development, there is a widespread agreement that current models of infrastructure planning, financing and use are far from perfect.

    The concept of a “sustainable infrastructure” is hoped to be a game changer. This concept is based less on the idea that infrastructure is built in the context of design, execution, acceptance and use of specific projects, but proposes instead an emphasis on the planning of infrastructure investments in a wider setting. This broader backdrop is to ensure that “maintainability” and “financeability” aspects of built infrastructure are included during implementation of infrastructure projects and that the infrastructure’s impact on the environment, its usefulness and effectiveness in the network of intersectoral relations and other non-economic criteria are taken into account. The debate on optimization of design and development processes of stable infrastructure is currently focused on its three aspects of sustainability: environmental, financial, and functional.

    In the modern world, the need to build an infrastructure that includes environment protection requirements is rarely questioned. The ethical or environmental inducements are here however of lesser importance than purely pragmatic reasons of constantly growing role. Shrinking deposits of natural resources, the issue of supply of uncontaminated water apt for human consumption, or, taking into account the urbanisation rate that reaches 70% globally, substantial problem of air pollution in large urban areas, mean that the costs of removing the effects of infrastructure projects implemented in a non-optimised way outweigh short-term benefits from the infrastructure development. Consequently, the decisions on implementation of infrastructure projects should be accompanied by comprehensive analyses of their long-term effects on the environment, environmental risks that are likely to occur during the use of relevant type of infrastructure, and the way of mitigation or compensation of those risks. Infrastructure projects that entail environmental risks that may cause effects that cannot be reasonably managed should not be carried out at all. On the other hand, if elimination of effects of the resulting environmental risk is greater in financial terms in comparison to the costs of building the infrastructure itself, these costs should be also taken into account by the public sector commissioning the execution of such investment. The public sector should also have a plan for financing actions that need to be taken to eliminate these effects, whether independently or in cooperation with the entities managing the infrastructure.

    The proposed paper aims to discuss the idea of “sustainable infrastructure” against the backdrop of contemporary reality of the infrastructure market. Further, the paper discusses public–private partnership model as a tool for development, modernisation and optimisation of economic and social infrastructure that could be best-suited for development of sustainable projects. The discussion includes several examples of projects developed in PPP-formula in Poland that will serve as illustrations of well-developed infrastructure. The paper concludes that sustainable development of infrastructure – as it needs thorough consideration, discussion with various social groups and experts and reliable planning – requires close cooperation between public and private sector.

    Markets, money and democracy 2

    22. Johan van Ophem Wiebe Jelsma, Wim Heijman, Wageningen University, The Netherlands, “Happiness in the European Union. The Czech republic compared with the Netherland in the 2004-2016 period”

     The paper deals with a comparison of happiness in The Netherlands , one of the founders of the EU in the European Union – with the Czech Republic, a former Communist country respectively transition economy, in the 2004-2016 period. The paper addresses the following two questions: : How has the level of happiness changed in the Czech Republic and in the Netherlands during the 2004-2016 period. And, secondly, are there differences with respect to variables that explain differences in happiness between the two countries.

    Data from various years from The European Social Survey (ESS) are used to answer the research question. The first question is mainly answered by the t-test and the second question by OLS.

    The results show that when one compares the Dutch level of happiness with the one of the Czech Republic, one finds that the Dutch people are in general happier than the people from Czech Republic. It was expected that the Czech Republic residents would become happier in the 2004-2016 period, but this did not happen. Another unexpected result is that the Dutch residents did become happier in the 2004-2016 period.

    The main findings of the OLS-analyses are that in both countries happiness is positively affected by subjective health status, perceived freedom of choice over life, being married or living together and satisfaction with one’s financial situation and having trust in social institutions. But there are differences: unemployment has a negative impact in CZ, whereas religion has a positive impact in NL just a being female an being 65 years or older in CZ. There is a convergence of variables that explain happiness in both countries. However, some puzzles are still there.

    23. Hans Visser, Free University of Amsterdam, The Netherlands, “Islamic economic ethics superior?”

     Many Muslim religious scholars and economists claim that Islam is superior to capitalism (and to communism, but that hardly plays a role nowadays) because the spirit of Islam, based on notions of fairness and social justice, is diametrically opposed to the spirit of capitalism, which centers on the accumulation of wealth. But are the two really that much apart, and can Islam rightly claim the moral high ground? The answers depend, first, on what is meant by ‘capitalism’ and, second, on what those notions of fairness and social justice are and how they work out in practice.

    My take on capitalism is that it is a way of organizing production. I follow the Marxist notion of capitalism as private ownership of the means of production. Capitalism has taken a whole plethora of forms in the course of history and it can accommodate various ethical codes, including the Islamic one. As for Islamic ethics, there is of course no unanimity among the various groups, and it is even not quite clear what exactly falls under ‘Islam’ – the position of the Ahmadiyya movement in Islam, for instance, is comparable to that of the Mormons in Christianity. I will focus on the ethics as discussed in the contemporary Islamic finance literature and in some of the leading scholarly journals and books on Islam. This literature can safely be regarded as representing the mainstream view.

    It turns out that there is a disconnect between Islamic ethics and the world of the 21st century: first, Islamic ethics is out of sync with some of the urgent problems facing the planet, as it is still being strongly influenced by medieval scholars, though admittedly environmental problems have rapidly become an area of special interest. Secondly, there is a yawning gap between the vaunted superiority of Islamic ethics and the real world of Islam. As was the case with the capitalism versus communism debate, it is not fair to set non-Islamic capitalist practice against lofty Islamic ideals; if the real world of Islam is confronted with the real world of capitalism, at the very least a more nuanced picture will appear.

    It is concluded that there are serious efforts to make Islamic ethics answer contemporary problems on a wider front, though still not as wide as in non-Islamic capitalist countries, but that the gap between rhetoric and practice does not seem to narrow significantly at the moment in some important areas.

     

    24. Ingrid Roos, Independent scientist, The Netherlands, “The Spinoza revival in the Netherlands in the second part of the nineteenth century”

    There are several hypotheses about the revival of the ideas of Spinoza in the Netherlands of the nineteenth century (see Wils (2005), Gullan-Whur (2000) and Tissen (2000)). This paper will focus on this revival. To make clear why this revival could take place I will discuss the reading of the texts of Spinoza by one man, Johannes van Vloten, who was an important publicist and propagator of Spinoza`s ideas in the second part of the nineteenth century. His reading of the texts was not a timeless excercition but embedded in the time and place were he lived in. This method of historical reading was propagated by the sociologist Pierre Bourdieu. I use the ideas of Bourdieu when I look at the field of reception of the philosophical text of Spinoza. The historical reading that Bourdieu propagates points to the fact that you should not read a philosophical text a-historically, outside time and place. Pure philosophy doesn`t exist, he said. In fact, when studying the interpretation of a philosophical text in a certain time in history you also have to look at the field of perception in that period. By circulating the ideas of Spinoza van Vloten tried to give an identity to all those people who felt not longer at home in the church.The question in that case is: why was van Vloten interested in the ideas of Spinoza, what was his place in the social and political context of his time and   which ideas of the original text did he embrace? Through his reading of the texts of Spinoza In the nineteenth century van Vloten gave an historical interpretation of the original texts written in the seventeenth century.

    CEVI session 2

     25. Halit Gonenc, Oleksandr Lebediev, Wim Westerman, University of Groningen (The Netherlands), “The Financing Decision of Oil and Gas Companies: the role of country level shareholder protection”

     This paper investigates the financing decisions of oil and gas companies in various countries for the period from 2001 to 2015. We focus on the determinants of proportions of both internal (cash flows) and external (debt and equity) funds used in financing of the capital expenditures to understand which theoretical reasoning have better explanation in the financing decisions of oil and gas companies. The results provide strong support to the trade-off theory and partial support to the pecking order and market timing theories. The choice of financing source depends on the country level shareholder protection. Companies in countries with a high level of shareholder protection are willing to issue more equity than companies in countries with a low level of shareholder protection.

     

    26. Yilmaz Yildiz, Mehmet Baha Karan, Hacettepe University, Turkey, “Corporate Cash Holdings in European Oil and Gas Producers: The role of energy directives”

     The aim of this study is to investigate the determinants of corporate cash holdings and adjustments to long-term target for oil and gas firms in Europe from 2000 to 2016. Precautionary motive of cash holding suggest that firms tend to accumulate cash to protect against the future uncertainty which means greater cash holdings may serve as a hedging tool especially for the firms in operate uncertain macroeconomic environments as energy firms. The dynamics of the corporate financial policies are different for the energy firms due to increasing integration of energy markets and also increasing uncertainty about the energy security, market structure as well as environmental issues. Arming with this, we also explore the role of energy directives which significantly changed the rules of the game, on the corporate cash holding policies. Including 267 firms and 2903 firm-year observations from 25 countries, our results suggest that energy directives in 2004 and 2010 have a strong impact on the cash holding decisions especially for the energy firms in Northern and Western Europe countries. As a result of the increasing uncertainty with the implementation of the 1st and 2nd directives, the firms in oil and gas industry in North and Western Europe started to increase their cash holdings. However, directives do not have any impact on the cash policies of the energy companies in UK, Eastern Europe and Russia. Other than energy directives, size, capital expenditures, cash flow and leverage have a negative impact on the cash ratio whereas R&D investments have a positive impact on the cash holdings. However, the impact of these firm-specific characteristics is subject to change according to the different macroeconomic conditions and different country groups. In other words, country-specific factors moderate the impact of firm-specific variables on the cash holding decisions. About the speed of adjustment to target cash level, our results reveal that other than Russian firms, oil and gas producers in Northern and Western Europe adjust their cash holdings to reach the target level faster than the firms in other countries. More specifically, the speed of adjustment is about 63% and 55% for the firms in Northern and Western Europe, respectively. On the other hand, energy firms in Eastern Europe close the 22% gap between their actual and target cash levels each year which is significantly lower than the other country groups. Finally, the adjustment speed in UK firms is approximately 53%. Our results are robust to different methods of estimations and different operationalization of cash ratio. Taken together, the integration of energy markets with the implementation 1st and 2nd energy directives have a more important role in the corporate financial policies in terms of cash holdings for the Northern and Western Europe. The findings of this study shed important lights on the understanding of corporate cash holding policies in energy firms which is often a neglected issue in the energy economics. Moreover, we hope that this study is going to bridge the gap between the corporate financial issues and energy economics.

     

    27. Benedict Kuhenga Mahona, Institute of Finance Management, Dar es Salaam, Tanzania, Bartjan. J.W Pennink, Jesse Dümmer,  University of Groningen (The Netherlands), “Development and Regulation of Local Energy Firms in Tanzania: The case of Natural Gas Industry”

    In regards to many contradictory findings on natural resource benefits or costs, this article offers a business economy theoretical literature and empirical evidence concerning the significant sequential involvement of actors and different levels in regard to the Local economic Development Model. The study emphasizes on the importance of including the local, regional, national and international levels level when developing scenario’s in order to overcoming the natural resource course. Evidently from the study, the natural gas sector can significantly contribute to country’s sustainable economic growth and development when all payers are well-coordinated and engaged. The sector strengthens the revenue and expenditure of the actors which in return leads to sustainable economic growth and development. Tanzania, as a newly producer/exporter of Natural gas has not to follow a linear, sequential approach to the management of her resource one in which problem would be dealt with as they arise but follow the revenue, legal and investment frameworks that are tailored to Tanzania needs and expectation. The management of these expectations appropriately will help to inform the behavior of all stakeholders for decades to come. This study shades right to the future concentration of researchers where field works can search on different aspects on how the different levels can be involved in the industry for the countries future prosperity.

     

    University Transition 2

    28. Monika Paradowska, University of Wrocław (Poland), “Contribution of rivalry and excludability to positive transport externalities in the context of campus sustainability”

    Purpose: The aim of the article is to assess to what extent the level of exclusion and rivalisation regarding transport systems influence the positive external effects of these transport systems enabling an effective functioning of three large university campuses in Wrocław in Poland (WSB University in Wrocław, University of Wrocław, Wrocław University of Economics).

    In order to achieve the aim, the following questions will be dealt with: What is the level of negative and positive external effects caused by the transport system? Do positive external effects appear as a consequence of changes towards a more sustainable transport system? Do changes in the transport system rather focus on the reduction of negative external effects, or support positive external effects? What levels of rivalisation of use and exclusion from transport systems influence the behavior of students and university employees?

    Design/methodology/approach: First, a literature review of the role of transport in the context of campus sustainability will be provided. This review will focus on the importance on negative external effects (e.g., pollution, climate change, traffic jams) and positive external effects (e.g., better access to transport systems, more competitive markets, positive social impacts). The main directions of change in transport systems will be discussed in the context of their impact on negative and positive external effects.

    Afterwards, the results of empirical research (carried out in May and June 2018) regarding the impact of rivalisation in use as well as (partial) exclusion from access to transport systems on positive and negative external effects in the context of campus sustainability will be presented and discussed. Based on discussions and interviews with students, the main areas of appearance of positive external effects supporting campus sustainability will be identified. Afterwards, the results of questionnaire research on this topic among students and workers of three large universities in Wrocław (Poland) will be presented. Also, the results of interview with non-teaching personnel will be discussed.

    Findings: Based on the theoretical considerations and the empirical research, the author will assess to what extent the level of rivalisation and exclusion from transport systems have an impact of positive and negative external effects, in turn supporting or hampering campus sustainability. The empirical data will allow for assessment whether (i) the changes in the transport system focused on reducing negative externalities or supporting positive externalities, (ii) policy for sustainable transport leads to a change in the positive external effects supporting campus sustainability, and (ii) whether the changes in the level of rivalisation and exclusion lead to a permanent, desired change in transport behavior, supporting campus sustainability and sustainable transport.

    Research limitations/implications: The research should be interpreted with care, as it is a case study of three universities in one city. However, the methodology allows for research in different cities with a significant student population.

    Practical implications: The results of the study may be used for development of urban sustainable transport policy in a city with a large student population.

    Social implications: The results of the research may be useful for the development of instruments enabling the change of mental models of users of transport systems, as well as the change in transport behavior of students and university employees.

    Originality/value: While many activities for supporting campus sustainability focus on reducing negative environmental externalities, positive externalities are not so often considered. In this context, the level of rivalisation and exclusion can become an indicator of the contribution of transport systems to social and economic sustainability.

    29. Diana Rokita, Łukasz Mach, Opole University of Technology (Poland), “Some mesoeconomic consequences of changing number of students in higher education in Polish academic cities”

     The changes currently taking place in the Polish higher education system are an inspiration to reflect on the role of universities and students in sustainable local and regional development. Institutions of higher education are assumed to bring a number of benefits to the environment in which they operate. The university has typical functions such as the creation of human capital, creating the basis for innovative processes, while having a typical utilitarian role as an economic unit. A less emphasized function of universities is attracting students who influence economic activity in the city where the university is located. The presentation will focus on the impact of students of the functioning of enterprises, and the relation between the number of students and the number of micro-enterprises in the academic cities in Poland. For this aim, correlation and linear regression analysis of statistical data has been applied to both the number of students undertaking studies in selected academic cities in Poland, as well as the number of enterprises operating in selected sectors. The results of this analysis show that in some cases there is a relation between the number of students and selected economic features of academic cities, while in other cases there is weak relationship between the number of students and the sphere of local entrepreneurship.

    30. Olga Okrzesik, AGH University of Science and Technology (Poland), “The role of SME’s in the economic development of the region”

    In today's economy - in accordance with the idea of a knowledge-based economy - enterprises mainly use knowledge that becomes crucial as new and innovative ideas are generated and implemented. The environment (also including the business environment) creates openings for enterprises to develop and get an opportunity to

    build their position in the market, at the same time affecting the region's development. These connections have the nature of a feedback loop. The aim of the article is to analyse and assess the impact of factors affecting enterprises from the SME sector, which will translate into local and regional development. Factors affecting the

    development of the enterprise have been identified, the company's environment has been defined - the opportunities created and the creation of a favourable climate for the creation and development of SMEs - and the factors shaping the economic development of the regions have been described.

    31. Wim Lambrechts, Open University of The Netherlands, “21st century skills, individual competences and personal capabilities for sustainability: the role of critical inquiry and interpretational skills in a post-truth era”

    Different models of skills and competences have been presented in the literature, both from a management and education background. However, business settings and educational settings have been elaborating on different interpretations and perspectives. In business settings, focus has been set on human resource perspectives and (economic) rankings of skills needed in the near future (e.g. by 2020). Depending on the focus and the timeframe, different skills appear in these rankings, e.g. critical thinking, creativity, and problem solving skills. In educational settings, framed within social constructivism theory, focus has been set on a more profound selection, definition and critical interpretation of sustainability competences. In such approaches competences are interpreted as the holistic notion of knowledge, skills, values and attitudes.

    Rankings of skills and conceptions of individual sustainability competences provide future directions for management and education. However, different interpretations from business and educational backgrounds have become mixed and used interchangeably, without consideration of validity issues of such approaches. This situation has led to a blurry discussion and a problematic interpretation and integration of skills and competences. A diversity of perspectives enriches the debate, on the premise that contributions start from a clear conceptualization and definition of the topic. In the context of sustainability, striving towards a generally accepted definition and interpretation of the concept of 21st century skills, competences and capabilities becomes difficult, if not impossible.

    CEVI session 3

     

    32. Nermin YAŞAR, Çankaya University, Ankara (Turkey), Erdinç TELATAR, Okan University, Istanbul (Turkey) ”Stochastic Futures of Renewable Energy Consumption: evidence from the Commonwealth of Independent States”

     In the recent years, interest in environmental issues has significantly increased. Raised awareness on environmental degradation and related problems has accelerated the efforts to find new ways to produce energy. Renewable energy sources have become popular as a result of this trend. As it can be inferred from the energy economics literature, determination of stochastic pattern of renewable energy consumption is the significant issue for energy economists and policy-makers from various aspects.

    First of all, based on applied theory if energy consumption series are non-stationary, then any shocks to energy consumption will have persistent effects. However, if renewable energy consumption follows a stationary process, then any shocks to renewable energy consumption will have short-term or impermanent effects, and after a while it will return to its original equilibrium level. In other words, in this conditions it may be better for the government to take non-interventionist actions in the energy market process, when renewable energy consumption varies from the trend line following a shock in the industry.

    Second, stochastic features of energy consumption have crucial inferences for determining of the relationship between energy consumption and other macroeconomic indicators as income, as well as deciding on appropriate estimation method to achieve statistically acceptable results.

    Third, according to the Hendry and Juselius (2000), variables related to the level of any variables with a stochastic trend will inherit that non-stationarity, and transmit it to other variables in turn. Then, if renewable energy consumption series follow a process with a stochastic trend or a unit root, then it may be diffused to other economic indicators.

    Finally, stationarity features of the renewable energy consumption has important inferences for estimating total energy consumption which is critical for forecasting national total energy demand and formulation of energy policies.

    For the reasons stated above, investigating of the time series pattern of renewable energy consumption is the main motivation of this study, which examines the stochastic behaviour of per capita renewable energy consumption for a panel of Commonwealth of Independent States over the period 1987–2017. For this purpose, along with traditional stationarity tests we will apply newly developed unit root tests that allow for nonlinear adjustments and structural breaks in the data generating process.

     

    33. Sıdıka Başçı, Yıldırım Beyazıt, Ankara, Turkey, Graduate School in Computer Sciences and Mathematics Engineering,   EISTI, Paris, France, Econometric Research Association, ERA, Ankara, Turkey, Sarkhan Piriyev, Yıldırım Beyazıt University, Turkey, “The Curse of Energy on Small and Medium Sized Enterprises in Azerbaijan: is this an unavoidable destiny?”

    It is an observed fact that Small and Medium Sized Enterprises (SMEs) have important effects on the growth of the countries. However, although Azerbaijan is a growing economy since 2006, it should be noted that the main factor of this pattern is not the production of SMEs but energy production of the country. In fact, this dependence on energy for growth is dangerous because energy prices dependent on the events occurring in international markets. For example, if the price of energy decreases in the international markets, the economy of the country will be negatively affected from this change. For this reason, countries like Azerbaijan should diversify their production. One of the ways to do this is to support SMEs. However, the SME positions analysed for several energy producing countries in this paper shows usually countries prefer to rely on their energy reserves and do not consider to support SMEs for the production of alternative products. This situation brings the question of whether energy is in fact a curse for SMEs of such countries and is this an unavoidable destiny for them.

    34. Mohammad Nurunnabi, Prince Sultan University (Saudi Arabia), Javier Esquer, Nora Munguia, David Zepeda, Rafael Perez, Luis Velazquez, University of Sonora, Hermosillo (Mexico), “Energy efficiency: the path towards Corporate Social Responsibility (CSR) and the Sustainable Development Goals 2030”

     It has been widely contended that corporate social responsibility (CSR) is an ambiguous concept that fails to strike the right balance between corporate economic interests and social demands. The present paper argues that energy efficiency principles can be used as a CSR tool to fulfill the sustainable development goals in the UN’s agenda 2030, so responding to the demands of a range of stakeholders while strengthening profitability. An extensive literature analysis was conducted to assess the state of the art in relation to CSR and energy efficiency. This paper argues in support of the theory that energy efficiency principles can help to operationalize CSR and address the social demands in the Sustainable Development Goals 2030 (explicitly, goal number 7). The paper concludes that energy efficiency initiatives create competitive advantages informed by the highest ethical principles, with benefits for corporations and society.

     

     

     

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