London 2012 and Climate Change. Examining the potential impact of the current economic crisis in the environmental legacy of the Games

The International Olympic Committee (IOC) declares environmental protection to be the third dimension of the Olympic movement. That, in effect, means that nations wishing to host the Games have to present themselves as reliable practitioners of environmental sustainability (ES) in their applications. The greening of sports mega-events, and the hosting of Olympic Games in particular, is now reasonably well established. Yet evidence from the first decade of environmentally-conscious Olympics points to diverging patterns of achievement in the operationalisation of the IOC’s ‘third pillar’. As is now common knowledge, for example, Sydney 2000 was the first ‘Green Olympics’ in the history of the Games; yet four years later, Athens provided a stark contrast, and was the subject of highly critical assessment reports by environmental organisations. Yet Athens has not stopped the Bid Committee for the Beijing 2008 Games claiming that it would ‘leave the greatest Olympic Games environmental legacy ever’ (UNEP 2007: 26), while the London 2012 promotes the concept of the ‘One Planet Olympics’.

In this context and in light of the current global economic crisis, can we claim that London 2012 has the capacity to fulfil its environmental ambitions? This question is adopted in continuity with similar framed questions that have been posed in relation to the most recent Olympics and it is tackled by adopting an investigative model that is placed within discourses of ‘reflexive modernisation’.

London 2012 and Environmental Sustainability: A Study Through the Lens of Environmental Sociology

This rapid response paper examines the claim that Olympic Games hosting can encourage and/or accentuate the adoption of environmental sustainability (ES) policies by the host nation, with London 2012 as a case study. Six indicators that can be used in this examination are identified and subsequently tested in relation to changes brought by austerity/'Big Society' policies. The paper closes by suggesting that although the UK, unlike other hosts, had a relatively good ES standing; however, it appears that this has been significantly downgraded in the event and immediate post-event phases of the Games

A contingent valuation of the 2012 London Olympic games - A regional perspective

Major sporting events such as the Olympics are usually assessed in terms of economic impacts. Recently, policy makers have begun to place greater emphasis on possible intangible effects (such as civic pride, legacy of sporting facilities) associated with such events. To date, little work has been carried out on quantifying these effects in a meaningful way. This study uses contingent valuation methodology to assess the value of the proposed 2012 London Olympic Games. The survey is carried out on the provincial city of Bath, approximately 2 hours west of London. Conducting the survey outside of London is justified on the basis that the organizers of London 2012 have emphasized the value of the event to the United Kingdom as a whole. The results suggest that positive intangible effects are associated with the event and residents outside of London are willing to pay toward funding.

Defining Democracy: Voting Procedures in Decision-making, Elections and Governance

Book Review: Emerson, Peter, Defining Democracy: Voting Procedures in Decision-making, Elections and
Governance (2nd edn), Springer, London, 2012,

Welcoming the World: Governing Hospitality in London's 2012 Olympic Bid

London’s successful bid for the 2012 Olympic Games presented a diverse, cosmopolitan city opening its arms and “welcoming the world.” This article explores the apparently benign gesture of hospitality contained in London’s official candidature files submitted in 2004 and asks how such a promise of inclusiveness is managed. We argue that London’s depiction of itself as hospitable to every kind of visitor relies on subtle techniques of governmentality in which the subject positions of “host” and “guest” are imagined and produced in ways that make them more governable. By this, we are not referring to acts of authority, coercion, or discipline that exclude subjects or render them docile bodies within a rigid panoptical city. Rather, we are referring to the delicate ways in which the official bid document imagines and produces the ideal subject positions of host and guest and in so doing enables, encourages, and incentivizes certain behaviors. This analysis of urban welcoming takes us beyond reductive oppositions of hospitality and hostility, inclusion and exclusion, self and other. It focuses instead on how London’s inclusive welcome produces a variety of host and guest positions (for example, the “Olympic Family,” volunteers, guest workers), segregates them within the city, and then “conducts their conduct” in the areas of planning, security, transport, accommodation, education, and training. By analyzing the techniques of governmentality at work in London’s 2004 bid document, this article foregrounds the enabling form of power driving the city’s inclusive welcome and exposes its inherent micropolitics.

Do Low-Priced Stocks Drive Long-Term Contrarian Performance on the London Stock Exchange?

We investigate whether low-priced stocks drive long-term contrarian performance on the U.K. market. We find that contrarian performance at low, middle, and high price levels is positive. On the Fama-French risk adjusted basis, we find both low-priced and middle-priced losers have significantly positive returns. When we adjust returns by market and liquidity risk, only middle-priced losers maintain their positive returns. Our results reveal that low-priced stocks are not fully responsible for contrarian performance. Our empirical evidence is generally consistent with the overreaction hypothesis and behavioral models of value investing.