Why join a carbon club?: a study of the banks participating in the Brazilian “Business for Climate Platform”

Why do firms that present low levels of (direct) carbon emissions participate in “carbon clubs”, which have the goal of managing and reducing greenhouse gas (GHG) emissions? In order to answer this question, we collected data from both primary and secondary sources from firms operating in the Brazilian banking sector, which are members of the Businesses for Climate Platform (Plataforma Empresas pelo Clima e EPC). We first looked for answers in the institutional theory and resource based view of the firm (RBV). By confronting the arguments presented by these streams of scientific enquiry with empirical data, we worked on theory testing. In particular, we analyzed the institutional pressures and resources and capabilities of the focus companies, in order to understand the rationales for proactive sustainability management. We found evidences of the arguments presented by both the institutional theory and the RBV. By studying an industry that is not a frequent subject to research on socio-environmental issues e for not being considered of high impact e in an emerging market economy, the research contributes to both the further development of the institutional theory and the advancement of sustainability management in corporations.

Financial governance: the Brazilian experience on prudential regulation and its impacts on the effects of the 2008 financial crisis

The Brazilian economy was severely hit by the 2008 crisis. In the beginning of the crisis, the vast majorities of the economic agents and authorities thought that Brazil could face some sort of decoupling since some macroeconomic fundamentals were very good. What we saw, however, was that the Brazilian economy was not decoupled, and expectations faced a huge deterioration soon after the bankruptcy of Lehman Brothers in September 15th. Two aspects regarding the impact of crisis in Brazil, however, deserve a great deal of attention: (a) although deep, the impact did not last for a long time. Actually, the GDP growth experienced a good recovery in the second quarter of 2009, showing that the health of the Brazilian economy was good; (b) the Brazilian banking system performed very well during the crisis, although we cannot say the system was not in danger in the worst time of the crisis. In spite of the confidence crisis faced by the banking system 1, it showed a great deal of resilience. In this aspect, we argue that the restructure faced by the banking system in the aftermath of the Real Plan, as well as the development of a solid supervision regulation helped a lot the system to avoid the systemic crisis that was an open possibility to the Brazilian banking system in the end of 2008. These notes, thus, discusse why the Brazilian banking system performed pretty well in the 2008 financial crisis and how the Brazilian banking (and prudential) regulation can be taken as responsible for this good performance. More specifically, the paper back to the middle of the 1990s, when the Real Plan was implemented, in order to understand the role played by the restructuring of the Brazilian financial system in helping to pave the way to the great resilience experienced by the Brazilian banking system during the 2008 crisis. More specifically, the prudential regulation that was implemented in Brazil in the aftermath of the Real Plan seems to play a decisive role in the resilience of the system nowadays.

The 1999 Brazilian financial crisis: how to create a financial crisis by trying to avoid one

This paper attempts to understand the Brazilian financial crisis mainly from an ‘endogenous-failure’ perspective. It argues that the general mechanisms that led to this financial crisis were in essence endogenous to the workings of an economy facing a sudden liberalisation, a surge in capital inflows, ineffective regulation and weak governance. This paper will also argue that within this general framework, there is a very specific ‘Minskyian’ feature to the Brazilian crisis, which made it different from other financial crises both in Latin America and in East Asia: how a particularly radical monetary policy led to a major financial fragility in the financial sector and State finances, and to an unmanageable Ponzi finance in the accounts of the Federal Government.

A note on financial regulation and the brazilian response to the 2008‐09 financial crisis

Brazil was frequently criticized for its interventionist and heavy financial regulation up until the 2008‐09 world financial crisis.  According to the neo‐liberal or pro‐market view that predominated in academic and financial circles during the early 2000s, economic development came together with financial deepening, which in its turn could only be achieved through financial liberalization and deregulation. The currency crises of the 1990s notwithstanding, by the mid‐2000s Brazil’s segmented financial market and its restrictive reserve and capital requirements were seen as a symbol of inefficiency and backwardness by most financial specialists.  To the luck of the Brazilian population, most of the advices of such specialists were ignored by the Brazilian authorities, so that, when the 2008 financial crisis hit the world economy, Brazil still had powerful and efficient instruments to deal with the problem.  The objective of this note is to present the mains aspects of the Brazilian financial regulation and how they helped the economy to deal with the consequences of 2008‐09 financial meltdown.

Fissura placentária de gatas SRD, Felis catus - Linnaeus, 1758: aspectos macro e microscópicos

Nossa pesquisa consiste no estudo esquemático macroscópico na placenta de gatos e a sua caracterização como tipo, placenta zonária, que 62,5% dos casos apresenta uma fissura na área distal do funículo umbilical. Esse é formado por uma área justa fetal, área justa placentária e área média, encontrando achados histológicos de 2 artérias, uma veia, 2 pedículos vitelínicos e 2 pedículos alantoidianos. Na fissura, encontramos um epitélio alantoidiano cobrindo esta área em 10% dos casos e, em 90% dos achados foram encontrados um trofoblasto diminuído comparado com outras áreas placentárias fora da fissura. Portanto, a placenta felina, com sua relação materno fetal mostra uma placenta zonária incompleta, diferente do ocorrido nos outros carnívoros.

Effect of adding macro and micro minerals in pig feces fed diets with different levels of probiotic

O objetivo deste trabalho foi avaliar dietas contendo diferentes doses (0, 100, 200 e 300 ppm) de probiótico sobre a produção diária de fezes (PDF) e teor de macro e microminerais nas fezes de suínos, nas fases de creche e de crescimento e no período total. A PDF, como porcentagem do peso vivo, somente apresentou diferença estatística (P<0,05) na fase inicial 1. Os teores de macro e microminerais excretados nas fezes não apresentaram diferença (P>0,05) entre tratamentos, a exceção de cálcio e sódio na fase inicial 1 e cálcio, zinco e níquel no período total. A adição de um poliprobiótico às dietas, não afetou a produção de fezes dos suínos nas fases de creche e de crescimento. Entretanto, a presença de microrganismos, adicionados (níveis de 200 e 300 ppm) às dietas reduziu a excreção fecal de cálcio, zinco e níquel.

Caracterização macro, meso e microscópica das estruturas frágeis do corpo arenítico conglomerático da região de Santana do Acaraú (CE) e seu embasamento circundante

The structural framework of the sedimentary basins usually plays an important role in oil prospects and reservoirs. Geometry, interconectivity and density of the brittle features developed during basin evolution could change the permo-porous character of the rocks involved in generation, migration and entrapment of fluid flow. Once the structural characterization of the reservois using only sub-surface data is not an easy task, many studies are focused in analogous outcrops trying to understand the main processes by which brittle tectonic is archieved. In the Santana do Acaraú region (Ceará state, NE Brazil) a pack of conglomeratic sandstone (here named CAC) has its geometry controlled mainly by NE trending faults, interpreted as related to reactivation of a precambrian Sobral Pedro II Lineament (LSP-II). Geological mapping of the CAC showed a major NE-SW trending synform developed before its complete lithification during a dextral transpression. This region was then selected to be studied in details in order of constrain the cretaceous deformation and so help the understanding the deformation of the basins along the brazilian equatorial margin. In order to characterize the brittle deformation in different scales, I study some attributes of the fractures and faults such as orientation, density, kinematic, opening, etc., through scanlines in satellite images, outcrops and thin sections. The study of the satellite images showed three main directions of the macrostructures, N-S, NE-SW and E-W. Two of theses features (N-S and E-W) are in aggreement with previous geophysical data. A bimodal pattern of the lineaments in the CAC´s basement rocks has been evidenciated by the NE and NW sets of structures obtained in the meso and microscale data. Besides the main dextral transpression two others later events, developed when the sediments were complety lithified, were recognized in the area. The interplay among theses events is responsible for the compartimentation of the CAC in several blocks along within some structural elements display diferents orientations. Based on the variation in the S0 orientation, the CAC can be subdivided in several domains. Dispite of the variations in orientations of the fractures/faults in the diferents domains, theses features, in the meso and microscopic scale, are concentrated in two sets (based on their trend) in all domains which show similar orientation of the S0 surface. Thus the S0 orientation was used to group the domains in three major sets: i) The first one is that where S0 is E-W oriented: the fractures are oriented mainly NE with the development of a secondary NW trending; ii) S0 trending NE: the fractures are concentrated mainly along the trend NW with a secondary concentration along the NE trend; iii) The third set, where S0 is NS the main fractures are NE and the secondary concentration is NW. Another analized parameter was the fault/fracture length. This attribute was studied in diferent scales trying to detect the upscale relationship. A terrain digital model (TDM) was built with the brittlel elements supperposed. This model enhanced a 3D visualization of the area as well as the spatial distribution of the fault/fractures. Finally, I believe that a better undertanding of the brittle tectonic affecting both CAC and its nearby basement will help the future interpretations of the tectonic envolved in the development of the sedimentary basins of the brazilian equatorial margin and their oil reservoirs and prospects, as for instance the Xaréu field in the Ceará basin, which subsurface data could be correlated with the surface ones

Palm heart harvesting in the Brazilian Atlantic forest: changes in industry structure and the illegal trade

1. Until the late 1960s, Euterpe edulis was the most important edible palm species in the Brazilian markets. Since then, overharvesting of natural stands and the limited scope of plantations have caused the industry to shift to the multistemmed E, oleracea from the Amazon river estuary.2, As a result of the relocation of the industry, the structure of the palm harvesting industry has changed and illegal trade has continued to exploit the remaining natural stands of E, edulis.3, it is suggested that, to avoid the total harvesting of E. edulis and to achieve sustainable management of the palm heart, it will be necessary to diversify the local economy, create incentives for small land owners to improve their management practices, while keeping their competitiveness against the illegal trade, create the incentive of new sources of palm hearts and create a 'green stamping' For management palms.4, Transformation of the illegal structure of the palm heart industry is probably the only solution to avoid the total depletion of the wild stands of E. edulis.

Reproductive phenology of climbers in a Southeastern Brazilian forest

The reproductive phenology of the entire climber community (96 species of lianas and 40 species of vines) in a semideciduous forest in Southeastern Brazil (22 degrees 49'45''S; 47 degrees 06'33''W and 670 m altitude) was observed from March 1988 to February 1991. Phenological observations were made weekly by walking along a 10.5 km trail in the interior and at the forest edges of the Santa Genebra Reserve (SGR). The most species-rich families of climbers were Bignoniaceae (22), Malpighiaceae (17), Sapindaceae (12) and Asteraceae (12). Flowering patterns for woody lianas and herbaceous vines differed. Lianas had two flowering peaks: a minor peak in March in the transition from wet to dry season, and a major peak in October during the transition from dry to wet season. The flowering peak for herbaceous vines was in April. Fruiting of lianas was highly seasonal, with one peak in the late dry season (July-August). Fruiting for vines was less seasonal with a slight peak in March. These differences were consistent with the predominance of wind-dispersed fruits among lianas (72% of species) versus vines (52%). Low rainfall, high leaf fall, and strong winds during the dry season favor wind dispersal. More species of vines (40%) have animal-dispersed seeds than lianas (19%), and most vines fruited during the wet season. Phenological patterns of climbers and trees and treelets at SGR differed. The life form of lianas and their system of reserve economy may allow them to reproduce during periods unfavorable to trees. Displacement of peak flowering periods of trees and climbers pollinated by bees and small generalist insects may decrease competition for pollen vectors among species of these two groups of plants. Whereas the fruiting patterns of wind-dispersed trees and climbers at SGR were similar (most species fruiting during the dry season), animal-dispersed trees and treelets fruited throughout the year while animal-dispersed climbers exhibited a pronounced peak in late wet season. The distinct phenological patterns of climbers, generally complementary to those presented by trees, resulted in constant availability of Bowers and fruits throughout the year and enhances the importance of this plant group in Neotropical forests.

Life-cycle inventory for hydroelectric generation: a Brazilian case study

Representative Life-Cycle Inventories (LCIs) are essential for Life-Cycle Assessments (LCAs) quality and readiness. Because energy is such an important element of LCAs, appropriate LCIs on energy are crucial, and due to the prevalence of hydropower on Brazilian electricity mix, the frequently used LCIs are not representative of the Brazilian conditions. The present study developed a LCI of the Itaipu Hydropower Plant, the major hydropower plant in the world, responsible for producing 23.8% of Brazil's electricity consumption. Focused on the capital investments to construct and operate the dam, the LCI was designed to serve as a database for the LCAs of Brazilian hydroelectricity production. The life-cycle boundaries encompass the construction and operation of the dam, as well as the life-cycles of the most important material and energy consumptions (cement, steel, copper, diesel oil, lubricant oil), as well as construction site operation, emissions from reservoir flooding, material and workers transportation, and earthworks. As a result, besides the presented inventory, it was possible to determine the following processes, and respective environmental burdens as the most important life-cycle hotspots: reservoir filling (CO(2) and CH(4) emission: land use); steel life-cycle (water and energy consumption; CO, particulates, SO(x) and NO(x) emissions); cement life-cycle (water and energy consumption; CO(2) and particulate emissions); and operation of civil construction machines (diesel consumption; NO(x) emissions). Compared with another hydropower studies, the LCI showed magnitude adequacy, with better results than small hydropower, which reveals a scale economy for material and energy exchanges in the case of ltaipu Power Plant. (C) 2009 Elsevier Ltd. All rights reserved.

Digestibilidade Aparente e Efeito Macro-Microscópico em Tilápia do Nilo (Oreochromis niloticus) Arraçoadas com Torta de Dendê

To evaluate the nutritional value of palm kernel meal on the performance Nile tilapia (Oreochromis niloticus), five isonitrogenous (30% crude protein), isoenergetic (2800 kcal/kg of digestible energy), and isofibrous (10% crude fiber) diets, with increasing levels of palm kernel meal (0, 7, 14, 21, 28 and 35%). were ad libitum fed to fingerlings with initial body weight of 1.52g +/- 0.04, housed per 120 days in 35 aquarium of 60 liters with fingerlings each. The environmental culture condition were monitored during all experimental period. Statistical analyses of recorded data were performed through polynomial regression models. To determine the apparent digestibility, macroscopic analysis of viscera and microscopic analysis of intestine epithelium were performed. The obtained results indicated that the inclusion of palm kernel meal up to 35% Nile tilapia diets did not affects the apparent digestibility and did not induce any pathological effects on viscera and intestinal epithelium.

Antioxidant content in guava (Psidium guajava) and araca (Psidium spp.) germplasm from different Brazilian regions

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Inflation and relative prices: the Brazilian experience, 1970/79.

Based on behaviour of output growth and industrial sector prices, it tries to define the several stages comprising the cyclic trends of the Brazilian economy. Analyzes the behaviour of inflation rates and of relative prices, and shows that there is a positive association between the measures of inflation rates and of their variables as well as between both these measures and dispersion of relative price changes. Demonstrates the assymetric behaviour of relative price changes and differentiated behaviour in relative prices of farm produce and industrial products. -from Authors

New occurrence of a macro B-chromosome in Astyanax scabripinnis paranae (Pisces, Characiformes, Characidae)

Cytogenetic studies performed on 17 specimens (11 females and six males) of Astyanax scabripinnis paranae from the Cascatinha stream showed that this population has 2n = 50 chromosomes (8M + 22SM + 10ST + 10A), two chromosome pairs with NORs and conspicuous C-band positive blocks in the terminal position of the long arm of five chromosome pairs. Three females presented 2n = 51 chromosomes and the extra chromosome was a large metacentric similar in size and morphology to the first chromosome pair in the karyotype. This accessory chromosome was entirely heterochromatic in C-banded metaphases, which permitted its classification as a supernumerary chromosome. Some aspects related to the morphology of such macro B-chromosomes are discussed.

Strengthening development: the interplay of macro- and microeconomics

Includes bibliography