Islamic project financing implementation for sustainable infrastructure development in Indonesia

Islamic financing in Indonesia infrastructure projects development has not been optimally implemented. Therefore this paper serves as a catalyst to explore alternative financial scheme such as Islamic financing for infrastructure development. The purpose of this paper is to explore the enablers and barriers in implementing Islamic project financing for public infrastructure development. The findings are then culminated into enablers and barriers in the implementation of Islamic project financing. The two main enablers are the readily availability of huge fund that can be used to support infrastructure projects; and the acceptability of the concept of shariah-compliant financing. On the other hand, the barriers include: high cost of funding; lack of financial institution capability; lack of government policy and regulation; insufficient government support and commitment; conflict between infrastructure and Islamic finance business practices; profit oriented mindset; lack of understanding of Islamic project financing knowledge in infrastructure; and insufficient project preparation.

Implementing the Clean Development Mechanism in Fiji : opportunities and barriers in the energy sector

The Clean Development Mechanism (CDM) has been praised for its ingenuity in mobilising finance to implement sustainable development practices in non-industrialised countries (known as Non-Annex 1 parties under the Kyoto Protocol). During the first commitment period of the Kyoto Protocol (2008-2012), a large number of clean development mechanism projects have been registered with the CDM board. In addition to the large number of registered CDM projects, there are significant numbers of proposed projects stalled in implementation due to the cumbersome and lengthy CDM approval process. Despite this regulatory criticism it is recognised that the role performed by the CDM is essential for achieving a significant reduction in global green house gas emissions. This is because the CDM funds sustainable development in countries that lack capacity to do so on their own. It is anticipated that some form of CDM instrument will continue post the 2012 timeframe and that reform of the mechanism will be focused around making the mechanism’s approval and implementation processes faster and more efficient.

Opportunities for forest finance under the International climate change regime

The international climate change regime has the potential to increase revenue available for forest restoration projects in Commonwealth nations. There are three mechanisms which could be used to fund forest projects aimed at forest conservation, forest restoration and sustainable forest management. The first forest funding opportunity arises under the clean development mechanism, a flexibility mechanism of the Kyoto Protocol. The clean development mechanism allows Annex I parties (industrialised nations) to invest in emission reduction activities in non-Annex 1 (developing countries) and the establishment of forest sinks is an eligible clean development mechanism activity. Secondly, parties to the Kyoto Protocol are able to include sustainable forest management activities in their national carbon accounting. The international rules concerning this are called the Land-Use, Land-Use Change and Forestry Guidelines. Thirdly, it is anticipated that at the upcoming Copenhagen negotiations that a Reduced Emissions from Deforestation and Degradation (REDD) instrument will be created. This will provide a direct funding mechanism for those developing countries with tropical forests. Payments made under a REDD arrangement will be based upon the developing country with tropical forest cover agreeing to protect and conserve a designated forest estate. These three funding options available under the international climate change regime demonstrate that there is potential for forest finance within the regime. These opportunities are however hindered by a number of technical and policy barriers which prevent the ability of the regime to significantly increase funding for forest projects. There are two types of carbon markets, compliance carbon markets (Kyoto based) and voluntary carbon markets. Voluntary carbon markets are more flexible then compliance markets and as such offer potential to increase revenue available for sustainable forest projects.

Towards the development of a best practice index for the disclosure of organisations' climate change-related corporate governance practices

The aim of this study is to develop a disclosure guide for climate-change-related corporate governance (CCCG) practices. Drawing from existing climate change policy guidelines together with content analysis of leading Australian companies’ disclosure practices, we develop a best practice index for the disclosure of CCCG practises. The best practice index is further informed, validated and refined by the contribution of experts from a range of stakeholder groups. Our index represents the most comprehensive list generated to date, utilising experts’ opinions, in relation to CCCG disclosure practices. This CCCG disclosure index would be useful for companies seeking to provide information in relation their CCCG practices

Industry policy, finance and the AIDC : Australia from the 1950s to the 1970s

This thesis, conceived within a Marxist framework, addresses key conceptual issues in the writing and theorising on industry policy in post second world- war Australia. Broadly, the thesis challenges the way that industry policy on the left of politics (reflected in the social democratic and Keynesian positions) has been constructed as a practical, progressive policy agenda. Specifically, the thesis poses a direct challenge to the primacy of the ‘national’ in interpreting the history of industry policy. The challenge is to the proposition that conflicts between national industry and international finance arose only from the mid 1980s. On the contrary, as will be seen, this is a 1960s issue and any interpretation of the debates and the agendas surrounding industry policy in the 1980s must be predicated on an understanding of how the issue was played out two decades earlier. As was the case in the 1960s, industry policy in the 1980s has been isolated from two key areas of interrogation: the role of the nation state in regulating accumulation and the role of finance in industry policy. In the 1950s and more so in the 1960s and early 1970s there was a reconfiguration of financing internationally but it is one that did not enter into industry policy analysis. The central concern therefore is to simultaneously sketch the historical political economy on industry policy from the 1950s through to the early 1970s in Australia and to analytically and empirically insert the role of finance into that history. In so doing the thesis addresses the economic and social factors that shaped the approach to industry finance in Australia during this critical period. The analysis is supported by a detailed examination of political and industry debates surrounding the proposal for, and institution of, a key national intervention in the form of the Australian Industry Development Corporation (AIDC).

Corporate Environmental and Economic Performance of Japanese Manufacturing Firms: Empirical Study for Sustainable Development

This study examines the relationship between environmental performance and economic performance in Japanese manufacturing firms. The environmental performance indicators include CO2 emissions and the aggregate toxic risk associated with chemical emissions relative to sales. Return on assets (ROA) is used as an indicator of economic performance. We demonstrate that there is a significant inverted U-shaped relationship between ROA and environmental performance calculated by aggregated toxic risk. We also find that the environmental performance increases ROA through both returns on sales and improved capital turnover. However, we observe a significant positive relationship between financial performance and environmental performance based on CO2 emissions. These findings may provide evidence for the consequences of firms' environmental behavior and sustainable development. © 2012 John Wiley & Sons, Ltd and ERP Environment.

Chinese economic development and the environment

Over the past two decades, China has become an economic powerhouse. However, as the world’s largest producer of CO2 emissions, the scale and seriousness of China’s environmental problems are clearly evident. This pioneering book provides an economic analysis of the significant environmental and energy problems facing China in the 21st century.

Do e-learning applications click with students globally? A study of the development and adoption of WriteCite.com

This paper traces the process of invention of adoption of WriteCite.com which is an internet based learning tool used by students to format citation lists. A number of theoretical issues relating to development and deployment of online learning tools are addressed in this paper. A significant finding in this paper is that adoption rate of new technologies amongst students, in this case for WriteCite.com, is not immediately global in nature despite the internet's ubiquity and the existence of internationally accepted bibliographic styles. Rather, and in contrast to neo theories of technology internationalisation, early-stage adoption tends to be geo-centric and concentrated in the US. In the case of WriteCite.com, which has not been sponsored by an academic institution, the findings reflect voluntary rates of globa adoption. From an applied perspective, the process of identifying globally contestable markets is relevant to developers of online learning tools.

Socio-economic determinants for industry development : the case of Australia’s Sydney rock oyster industry

Socio-economic characteristics such as age, gender, educational attainment, employment status, and income contain vital information about how an industry may respond to changing circumstances, and hence are of importance to decision makers. While some socio-economic studies exist, relatively little attention has been given to fishery and aquaculture industries in regards to their socio-economic profiles and their role in the development prospects of these industries. In this study, by way of example, we focus on Australia’s Sydney rock oyster (Saccostrea glomerata) (SRO) industry. The aim of this study was identify the socio-economic profile of the SRO industry and to illustrate the value of such information for an industry management assessment. The SRO industry has experienced a major decrease in production volume since the late 1970 and continues to be affected by prevailing diseases and increasing market competition from Australia’s Pacific oyster (Crassostrea gigas) industry. It is likely that socio-economic aspects have influenced this development within the SRO industry. The socio-economic profile was developed using data from a SRO industry farm survey which was undertaken in 2012. Findings suggested that this industry is characterised by a mature aged oyster farmer population and a part-time oyster farming approach. These characteristics may affect the farmers’ ability to drive innovation and growth. The results also suggested that there may be potential industry entry barriers present in the SRO industry which may prevent younger people taking up oyster farming. Given the results, the study concluded that the current socio-economic profile of the industry has likely contributed to the present economic status quo of the industry.

Coastal development, coral reefs and marine life in Asia: Tourism's double-edged sword

A large proportion of the world's population, including those of Asian countries, live in close proximity to the coastline. Coastlines are being developed at a £aster rate than ever before and there is now a growing body of literature to show that such activities are affecting the quality of coastal ecosystems and its wildlife (see, for example, Jennings, 2004; Siler et al., 2014; Duke eta!., 2007). This in turn is impacting negatively on the fishing and the tourism industries, amongst others. Millions of people depend on these sectors for their livelihoods and, unsustainable development can only make the plight of those who rely on these resources worse. The tourism industry in the coastal regions is particularly at risk since the industry relies heavily on coastal ecosystems to attract visitors. This chapter discusses the strong links that exist between coastal development, tourism, marine ecosystems and its wildlife, drawing attention to two well-known species widely used in tourism, namely whales and sea turtles, and discussing their conservation in relation to tourism. The chapter is divided into six sections. The second section examines why it is important to strike a balance between coastal development and protecting ecosystems. In this section, we discuss the ma.ior identified causes of coastal ecosystem degradation from the published literature, and the third section focuses attention on tourism development in the Asian region, which is one of the major reasons for coastal degradation. A diagrammatic approach is used to illustrate that planning of coastal tourism development which takes into account environmental impacts could result in economic benefits to the areas and regions concerned. The negative impacts on tourism when coastal ecosystems are damaged are discussed in section four. Section five shows the economic benefits resulting from sea turtle and whale watching-based tourism in Australia, and section six examines tourism as a conservation tool. In this section, the differing experiences of sea turtle tourism in Sri Lanka and Australia are discussed based on our published work. The final section concludes.

Infrastructure, investment and development evaluation: A Complex Stakeholder Perception Mapping approach for improving local and regional economic development outcomes

Partial evaluation of infrastructure investments have resulted in expensive mistakes, unsatisfactory outcomes and increased uncertainties for too many stakeholders, communities and economies in both developing and developed nations. "Complex Stakeholder Perception Mapping" (CSPM), is a novel approach that can address existing limitations by inclusively framing, capturing and mapping the spectrum of insights and perceptions using extended Geographic Information Systems. Maps generated in CSPM offer presentations of flexibly combined, complex perceptions of stakeholders on multiple aspects of development. CSPM extends the applications of GIS software in non-spatial mapping and of Multi-Criteria Analysis with a multidimensional evaluation platform and augments decision science capabilities in addressing complexities. Application of CSPM can improve local and regional economic gains from infrastructure projects and aid any multi-objective and multi-stakeholder decision situations.

Unitary Taxation of the Finance Sector

Multinational financial institutions (MNFIs) play a significant role in financing the activities of their clients in developing nations. Consistent with the ‘follow-the-customer’ phenomenon which explains financial institution expansion, these entities are increasingly profiting from activities associated with this growing market. However, not only are MNFIs persistent users of tax havens, but also, more than other industries, have the opportunity to reduce tax through transfer pricing measures. This paper establishes a case for an industry-specific adoption of unitary taxation with formulary apportionment as a viable alternative to the current regime. In doing so, it considers the practicalities of implementing this by examining both definitional issues and possible formulas for MNFIs. This paper argues that, while there would be implementation difficulties to overcome, the current domestic models of formulary apportionment provide important guidance as to how the unitary business and business activities of MNFIs should be defined, as well as the factors that should be included in an allocation formula, and the appropriate weighting. This paper concludes that unitary taxation with formulary apportionment is a viable industry-specific alternative for MNFIs.