Effects of flooding on coastal vegetation and salt marshes

This thesis examines the effects of flooding on coastal and salt marsh vegetation. I conducted a field experiment in Bellocchio Lagoon to test the effects of different inundation periods (Level 1 = 0.468 or 11.23 hours; Level 2 = 0.351 or 8.42 hours; Level 3 = 0.263 or 6.312 hours; Level 4 = 0.155 or 3.72 hours; Level 5 = 0.082 or 1.963 hours; Level 6 = 0.04 or 0.96 hours) on the growth responses and survival of the salt marsh grass Spartina maritima in summer 2011 and 2012. S. maritima grew better at intermediate inundation times (0,351 hours; 0,263 hours, 0,115 hours; 0,082 hours), while growth and survival were reduced at greater inundation periods (0,468 hours). The differences between the 2011 and 2012 experiment were mainly related to differences in the initial number of shoots (1 and 5, respectively in 2011 and 2012). In the 2011 experiment a significant lower number of plants was present in the levels 1 and 6, the rhizomes reached the max pick in level 4, weights was major in level 4, spike length reached the pick in level 3 while leaf length in level 2. In the 2012 experiment the plants in level 6 all died, the rhizomes were more present in level 3, weights was major in level 3, spike length reached the pick in level 3, as well as leaf length. I also conducted a laboratory experiment which was designed to test the effects of 5 different inundation periods (0 control, 8, 24, 48, 96 hours) on the survival of three coastal vegetation species Agrostis stolonifera, Trifolium repens and Hippopae rhamnoides in summer 2012. The same laboratory experiment was repeated in the Netherlands. In Italy, H. rhamnoides showed a great survival in the controls, a variable performance in the other treatments and a clear decrease in treatment 4. Conversely T. repens and A. stolonifera only survive in the control. In the Netherlands experiment there was a greater variability responses for each species, still at the end of the experiment survival was significantly smaller in treatment 4 (96 h of seawater inundation) for all the three species. The results suggest that increased flooding can affect negatively the survival of both saltmarsh and coastal plants, limiting root system extension and leaf growth. Flooding effect could lead to further decline and fragmentation of the saltmarshes and coastal vegetation, thereby reducing recovery (and thus resilience) of these systems once disturbed. These effects could be amplified by interactions with other co-occurring human impacts in these systems, and it is therefore necessary to identify management options that increase the resilience of these systems.

Effects of nutrients and sea-level rise on salt marshes of different soil types

The present thesis analyses the effects of the enrichment of the soil with fertilizer and sea level rise (SLR) on salt marsh vegetation. We simulated different conditions of the salt marshes under current and projected sea level rise. These habitats are colonised by various types of plants, we focused on species belonging to the genus Spartina. This plant seems to be particularly sensitive to eutrophication due to human activities, as experiments have documented a loss of habitat associated with altered nutrient conditions. We manipulated experimentally the types of sediment, the concentration of nutrients and sea level rise. We wanted to test whether eutrophication can affect the aboveground/belowground growth of the vegetation, and indirectly the erosion of the sediment, with potentially interacting effects with soil type and SLR in affecting the loss of the habitats and species. The study lasted from July to October. The data were analysed using Permanova. The results showed that the plants were placed in growth spiked sediment different from those raised in the untreated sediment. Furthermore, the sediment underwent a level of erosion differently depending on the growth of plants and the condition they were in the pots, current or future sea levers. These results suggest that the total salt marsh habitat is very sensitive to changes caused by human activities, and that excessive eutrophication, combined with SLR will likely facilitate further loss of salt marsh vegetation.

Risk appetite e risk tolerance: strumenti di supporto agli istituti di credito per l'assunzione di rischi in tempi di crisi

Negli ultimi anni l’attenzione di legislatori e degli Organi di Vigilanza, in base alle riforme regolamentari attivate in risposta alla crisi economica, si sono focalizzate sulle pratiche di risk management delle Banche, sottolineando l’importanza dei sistemi di controllo e gestione dei rischi. Il presente lavoro nasce con l’intento di analizzare e valutare le caratteristiche salienti del processo di assunzione e gestione dei rischi nel sistema economico finanziario attuale. Numerosi e autorevoli esperti, come gli operatori del Financial Stability Board , Institute of International Finance e Senior Supervisory Group, si sono espressi sulle cause della crisi finanziaria ed hanno sollevato dubbi circa la qualità delle azioni intraprese da alcuni manager, sulle loro politiche gestionali e sulla comprensione delle reali condizioni in cui versavano le loro Banche (in termini di esposizione ai rischi, report da aggregazione dati su performance aziendali e qualità dei dati aggregati) , si è ritenuto giusto dal punto di vista teorico approfondire in particolare i temi del Risk Appetite e Risk Tolerance, novità introdotte nelle diverse direttive e normative in risposta alle citate ed ambigue politiche di gestione ed assunzione rischi. I concetti, qui introdotti, di appetito e tolleranza al rischio conducono ad una ampia sfera di riferimento che guarda alla necessità di fissare degli obiettivi di rischio e loro limiti per poter meglio controllare e valutare la stabilità economica/finanziaria e stimare gli effetti di condizioni peggiorative (reali o soltanto teoriche, come gli stress test) sulla solvibilità e profittabilità delle Banche nazionali ed internazionali. Inoltre, ad integrazione di quanto precedentemente esposto sarà illustrata una survey sulla disclosure delle principali Banche europee in relazione alle informazioni sul Risk Appetite e sul Risk Tolerance.

Analysis of the relationships between Spartina maritima and nutrient enrichment in North Adriatic salt marshes

Salt marshes are coastal ecosystem in the upper intertidal zone between internal water and sea and are widely spread throughout Italy, from Friuli Venezia Giulia, in the North, to Sicily, in the South. These delicate environments are threatened by eutrophication, habitat conversion (for land reclaiming or agriculture) and climate change impacts such as sea level rise. The objectives of my thesis were to: 1) analyse the distribution and biomass of the perennial native cordgrass Spartina maritima (one of the most relevant foundation species in the low intertidal saltmarsh vegetation in the study region) at 7 sites along the Northern Adriatic coast and relate it to critical environmental parameters and 2) to carry out a nutrient manipulation experiment to detect nutrient enrichment effects on S. maritima biomass and vegetation characteristics. The survey showed significant differences among sites in biological response variables - i.e., live belowground, live aboveground biomass, above:belowground (R:S) biomass ratio, % cover, average height and stem density – which were mainly related to differences in nitrate, nitrite and phosphate contents in surface water. Preliminary results from the experiment (which is still ongoing) showed so far no significant effects of nutrient enrichment on live aboveground and belowground biomass, R:S ratio, leaf %Carbon, average height, stem density and random shoot height; however, a significantly higher (P=0.018) increase in leaf %Nitrogen content in treated plots indicated that nutrient uptake had occurred.