Private climate change reporting: an emerging discourse of risk and opportunity?

Purpose – This paper aims to explore the nature of the emerging discourse of private climate change reporting, which takes place in one-on-one meetings between institutional investors and their investee companies. Design/methodology/approach – Semi-structured interviews were conducted with representatives from 20 UK investment institutions to derive data which was then coded and analysed, in order to derive a picture of the emerging discourse of private climate change reporting, using an interpretive methodological approach, in addition to explorative analysis using NVivo software. Findings – The authors find that private climate change reporting is dominated by a discourse of risk and risk management. This emerging risk discourse derives from institutional investors' belief that climate change represents a material risk, that it is the most salient sustainability issue, and that their clients require them to manage climate change-related risk within their portfolio investment. It is found that institutional investors are using the private reporting process to compensate for the acknowledged inadequacies of public climate change reporting. Contrary to evidence indicating corporate capture of public sustainability reporting, these findings suggest that the emerging private climate change reporting discourse is being captured by the institutional investment community. There is also evidence of an emerging discourse of opportunity in private climate change reporting as the institutional investors are increasingly aware of a range of ways in which climate change presents material opportunities for their investee companies to exploit. Lastly, the authors find an absence of any ethical discourse, such that private climate change reporting reinforces rather than challenges the “business case” status quo. Originality/value – Although there is a wealth of sustainability reporting research, there is no academic research on private climate change reporting. This paper attempts to fill this gap by providing rich interview evidence regarding the nature of the emerging private climate change reporting discourse.

Whistler mode wave growth and propagation in the prenoon magnetosphere

Pitch-angle scattering of electrons can limit the stably trapped particle flux in the magnetosphere and precipitate energetic electrons into the ionosphere. Whistler-mode waves generated by a temperature anisotropy can mediate this pitch-angle scattering over a wide range of radial distances and latitudes, but in order to correctly predict the phase-space diffusion, it is important to characterise the whistler-mode wave distributions that result from the instability. We use previously-published observations of number density, pitch-angle anisotropy and phase space density to model the plasma in the quiet pre-noon magnetosphere (defined as periods when AE<100nT). We investigate the global propagation and growth of whistler-mode waves by studying millions of growing ray paths and demonstrate that the wave distribution at any one location is a superposition of many waves at different points along their trajectories and with different histories. We show that for observed electron plasma properties, very few raypaths undergo magnetospheric reflection, most rays grow and decay within 30 degrees of the magnetic equator. The frequency range of the wave distribution at large L can be adequately described by the solutions of the local dispersion relation, but the range of wavenormal angle is different. The wave distribution is asymmetric with respect to the wavenormal angle. The numerical results suggest that it is important to determine the variation of magnetospheric parameters as a function of latitude, as well as local time and L-shell.

Pragmatic deficits with syntactic consequences?: L2 pronominal subjects and the syntax–pragmatics interface

Contemporary acquisition theorizing has placed a considerable amount of attention on interfaces, points at which different linguistic modules interact. The claim is that vulnerable interfaces cause particular difficulties in L1, bilingual and adult L2 acquisition (e.g. Platzack, 2001; Montrul, 2004; Müller and Hulk, 2001; Sorace, 2000, 2003, 2004, 2005). Accordingly, it is possible that deficits at the syntax–pragmatics interface cause what appears to be particular non-target-like syntactic behavior in L2 performance. This syntax-before-discourse hypothesis is examined in the present study by analyzing null vs. overt subject pronoun distribution in L2 Spanish of English L1 learners. As ultimately determined by L2 knowledge of the Overt Pronoun Constraint (OPC) (Montalbetti, 1984), the data indicate that L2 learners at the intermediate and advanced levels reset the Null Subject Parameter (NSP), but only advanced learners have acquired a more or less target null/overt subject distribution. Against the predictions of Sorace (2004) and in line with Montrul and Rodríguez-Louro (2006), the data indicate an overuse of both overt and null subject pronouns. As a result, this behavior cannot be from L1 interference alone, suggesting that interface-conditioned properties are simply more complex and therefore, harder to acquire. Furthermore, the data from the advanced learners demonstrate that the syntax–pragmatics interface is not a predetermined locus for fossilization (in contra e.g. Valenzuela, 2006).

Private climate change reporting: a discourse of risk and opportunity

Purpose – This paper aims to explore the nature of the emerging discourse of private climate change reporting, which takes place in one-on-one meetings between institutional investors and their investee companies. Design/methodology/approach – Semi-structured interviews were conducted with representatives from 20 UK investment institutions to derive data which was then coded and analysed, in order to derive a picture of the emerging discourse of private climate change reporting, using an interpretive methodological approach, in addition to explorative analysis using NVivo software. Findings – The authors find that private climate change reporting is dominated by a discourse of risk and risk management. This emerging risk discourse derives from institutional investors' belief that climate change represents a material risk, that it is the most salient sustainability issue, and that their clients require them to manage climate change-related risk within their portfolio investment. It is found that institutional investors are using the private reporting process to compensate for the acknowledged inadequacies of public climate change reporting. Contrary to evidence indicating corporate capture of public sustainability reporting, these findings suggest that the emerging private climate change reporting discourse is being captured by the institutional investment community. There is also evidence of an emerging discourse of opportunity in private climate change reporting as the institutional investors are increasingly aware of a range of ways in which climate change presents material opportunities for their investee companies to exploit. Lastly, the authors find an absence of any ethical discourse, such that private climate change reporting reinforces rather than challenges the “business case” status quo. Originality/value – Although there is a wealth of sustainability reporting research, there is no academic research on private climate change reporting. This paper attempts to fill this gap by providing rich interview evidence regarding the nature of the emerging private climate change reporting discourse.

Fireball models for flares in AE Aquarii

We examine the flaring behaviour of the cataclysmic variable AE Aqr in the context of the `magnetic propeller' model for this system. The flares are thought to arise from collisions between high-density regions in the material expelled from the system after interaction with the rapidly rotating magnetosphere of the white dwarf. We calculate the first quantitative models for the flaring and calculate the time-dependent emergent optical spectra from the resulting hot, expanding ball of gas. We compare the results under different assumptions to observations and derive values for the mass, length-scale and temperature of the material involved in the flare. We see that the fits suggest that the secondary star in this system has Population II composition.

REVIEW: Fireballs, Flares and Flickering

We review our understanding of the prototype ``Propeller'' system AE Aqr and we examine its flaring behaviour in detail. The flares are thought to arise from collisions between high density regions in the material expelled from the system after interaction with the rapidly rotating magnetosphere of the white dwarf. We show calculations of the time-dependent emergent optical spectra from the resulting hot, expanding ball of gas and derive values for the mass, lengthscale and temperature of the material involved. We see that the fits suggest that the secondary star in this system has reduced metal abundances and that, counter-intuitively, the evolution of the fireballs is best modelled as isothermal.

Fireballs in AE Aquarii

AE Aqr is an unusual cataclysmic variable star exhibiting bizarre phenomena that can now be interpreted in the context of a magnetic propeller that throws gas out of the binary system.

Construction contracts: law and management. 4th edition

This is a fully revised edition of the UK’s leading textbook on the law governing construction contracts and the management and administration of those contracts. Although the legal principles involved are an aspect of general contract law, the practical and commercial complexities of the construction industry have increasingly made this a specialist area. This new edition has been brought up to date with recent cases and developments in the law as it stands at March 2007. The basic approach of the book has been retained. Rather than provide a commentary on standard-form contracts, our approach is to introduce the general principles that underlie contracts in construction, illustrating them by reference to the most important standard forms currently in use. Some of the common standard-form contracts have been revised since the previous edition, and the text has been revised to take account of these changes. Practitioners (consultants, builders, clients and lawyers) will find this an extremely useful source of reference, providing in-depth explanations for all of the features found in contemporary construction contracts, with reasons. A unique feature of this book is the way that it brings together the relevant principles of law with the practical issues arising in construction cases. It is a key text for construction undergraduates and postgraduates as well as for those taking the RIBA Part III and CIOB Part II examinations.

Organizing for sustainable procurement: theories, institutions and practice

That construction procurement needs to be re-organized to make it more sustainable implies that there is a problem with the current situation. Starting from this assumption, an overview of construction procurement sets the scene for a discussion of some recent developments relating to organizational frameworks for sustainable construction procurement. Emergent theories dealing with sustainable procurement are considered. There is a plethora of standards and guidance documents for organizing sustainable procurement, originating from a variety of organizations involved. These considerations form the context for approaches being used in practice to achieve sustainable procurement. The Chapter concludes with reflections on why current approaches are insufficient. It seems difficult to persuade clients to spend less money over the life cycle of their buildings. Future directions needed to translate sustainable procurement from rhetoric to reality include the development of suitable incentives and appropriate organizational structures.

Sustaining growth and profits in a rapidly changing world - a Chinese perspective

The aim of this paper is to stimulate discussion about how Chinese construction and professional service companies can best equip themselves and grow sustainably and profitably in a rapidly changing world. It identifies some of the issues and risks faced by Chinese construction and professional service companies operating domestically and overseas. China has experienced a period of rapid economic growth which is also reflected in the annual construction output. China’s population is the largest in the world, but the demographic profile is changing with an ageing population and a changing dependency ratio. The population is urbanising at a fast rate, putting pressure on housing, and infrastructure. The government must plan for the future and the construction sector must be involved in that planning. The paper considers the drivers shaping China’s construction market, how companies are responding by embracing change and internationalising by seeking to exploit their skills overseas. The drivers are globalisation, urbanisation, demographic change, sustainability, safety and health, and the evolution of professional services as a core part of construction activity. Clients/owners are driving change by demanding more certainty and more sustainable projects.

Building the web: the Internet and the property profession

The report examines the development of the Internet and Intranets in the world of business and commerce, drawing on previous literature and research. The new technology is explained, and key issues examined, such as the impact of the Internet on the surveyor's role as 'information broker' and its likely effect on clients' property requirements. The research is based on an analysis of 261 postal questionnaire responses and eight case study interviews from a sample of general practice and quantity surveying practices and corporates. For the first time the property profession is examined in detail and the key drivers, barriers and benefits of Internet use are identified for a range of different sized organisations.

Evolution and change in the serviced office sector: a decade later

With particular reference to its role in the corporate real estate supply chain, this paper focuses on how the serviced office sector in the UK has evolved and changed over the last decade. A qualitative research approach involving 21 semi-structured interviews with corporate clients of serviced office operators was used to address a number of issues regarding the perceptions of users of serviced offices. It is concluded that the serviced office sector has become an established sector of the UK’s commercial real estate market providing an essential product for many corporate organisations. The serviced office sector has been relatively nimble and a range of operational models have emerged. It was found that corporate organisations use serviced office space and services in order to align workforce change with portfolio change, to transfer risk, for short-term project space, as temporary overflow space, to pilot a new location, to become familiar with a specific geographical marketplace or simply to gain an initial presence in an area.

The dilemma of scope and scale for construction professional service firms

Construction professional service (CPS) firms sell expertise and provide innovative solutions for projects founded on their knowledge, experience, and technical competences. Large CPS firms seeking to grow will often seek new opportunities in their domestic market and overseas by organic or inorganic growth through mergers, alliances, and acquisitions. Growth can also come from increasing market penetration through vertical, horizontal, and lateral diversification. Such growth, hopefully, leads to economies of scope and scale in the long term, but it can also lead to diseconomies, when the added cost of integration and the increased complexity of diversification no longer create tangible and intangible benefits. The aim of this research is to investigate the key influences impacting on the growth in scope and scale for large CPS firms. Qualitative data from the interviews were underpinned by secondary data from CPS firms’ annual reports and analysts’ findings. The findings showed five key influences on the scope and scale of a CPS firm: the importance of growth as a driver; the influence of the ownership of the firm on the decision for growth in scope and scale; the optimization of resources and capabilities; the need to serve changing clients’ needs; and the importance of localization. The research provides valuable insights into the growth strategies of international CPS firms. A major finding of the research is the influence of ownership on CPS firms’ growth strategies which has not been highlighted in previous research.

The interaction between the physical environments and people

Buildings affect people in various ways. They can help us to work more effectively; they also present a wide range of stimuli for our senses to react to. Intelligent buildings are designed to be aesthetic in sensory terms not just visually appealing but ones in which occupants experience delight, freshness, airiness, daylight, views out and social ambience. All these factors contribute to a general aesthetic which gives pleasure and affects one’s mood. If there is to be a common vision, it is essential for architects, engineers and clients to work closely together throughout the planning, design, construction and operational stages which represent the conception, birth and life of the building. There has to be an understanding of how patterns of work are best suited to a particular building form served by appropriate environmental systems. A host of technologies are emerging that help these processes, but in the end it is how we think about achieving responsive buildings that matters. Intelligent buildings should cope with social and technological changes and also be adaptable to short-term and long-term human needs. We live through our senses. They rely on stimulation from the tasks we are focused on; people around us but also the physical environment. We breathe air and its quality affects the olfactory system; temperature is felt by thermoreceptors in the skin; sound enters our ears; the visual scene is beheld by our eyes. All these stimuli are transmitted along the sensory nervous system to the brain for processing from which physiological and psychological reactions and judgments are formed depending on perception, expectancies and past experiences. It is clear that the environmental setting plays a role in this sensory process. This is the essence of sensory design. Space plays its part as well. The flow of communication is partly electronic but also largely by people meeting face to face. Our sense of space wants different things at different times. Sometimes privacy but other times social needs have to be satisfied besides the organizational requirement to have effective human communications throughout the building. In general if the senses are satisfied people feel better and work better.