958 resultados para buyout option


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The significance of large siluroids in dynamics of riverine fish catch composition pinpointed the need to appraise that i) fisheries; ii) status in riverine fisheries; and iii) factors influencing their fisheries with special reference to Aorichthys seenghala (Sykes). The investigations were carried out in the middle stretch of Ganga river system around Allahabad. The study concluded that although, catch of large siluroids had declined but their share in riverine catch increased. The same was true for A. seenghala. The increase in fishing intensity in A. seenghala breeding grounds was one of the evident indicators of fishing stress on the fish. Strong seasonality was observed in its catch over the year. The wanton killing of breeding population during premonsoon and juveniles during postmonsoon may be attributed for this seasonality and decline in its catch. The fishing stress needs to be diverted through some more lucrative option to save its fisheries. Collection of young ones from the nest, during breeding months and their subsequent culture may be one of the conservation measures. It would also generate additional employment for fishers and defer wanton killing of brood stock.

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This monograph studies the progress achieved by conservation partners in South Africa on the implementation of the Convention on Biological Diversity (CBD) Programme Element Two components of governance, participation, equity and benefit sharing, from the perspective of small-scale fishing communities. It explores the strategies and mechanisms used by different authorities to create the conditions whereby local communities can benefit from marine protected areas (MPAs), of which South Africa has gazetted 24, highlighting examples of best practice. The monograph will be useful for researchers, scientists, fishworker organizations, environmentalists and anyone interested in the protection of marine biodiversity and the promotion of sustainable fisheries management.

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The T-Plan fast-start approach provides a template and a set of customization principles that provide benefits in their own right, as well as initiating a longer-term process. The fast-start approach can be used to explore a particular strategic issue without the commitment to continue to develop an ongoing and embedded process. However, the option to do so is one of the outcomes of the approach and can lead to a strong, well-grounded roadmapping process.

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Pile reuse has become an increasingly popular option in foundation design, mainly due to its potential cost and environmental benefits and the problem of underground congestion in urban areas. However, key geotechnical concerns remain regarding the behavior of reused piles and the modeling of foundation systems involving old and new piles to support building loads of the new structure. In this paper, a design and analysis tool for pile reuse projects will be introduced. The tool allows coupling of superstructure stiffness with the foundation model, and includes an optimization algorithm to obtain the best configuration of new piles to work alongside reused piles. Under the concept of Pareto Optimality, multi-objective optimization analyses can also reveal the relationship between material usage and the corresponding foundation performance, providing a series of reuse options at various foundation costs. The components of this analysis tool will be discussed and illustrated through a case history in London, where 110 existing piles are reused at a site to support the proposed new development. The case history reveals the difficulties faced by foundation reuse in urban areas and demonstrates the application of the design tool to tackle these challenges. © ASCE 2011.

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Targets to cut 2050 CO2 emissions in the steel and aluminium sectors by 50%, whilst demand is expected to double, cannot be met by energy efficiency measures alone, so options that reduce total demand for liquid metal production must also be considered. Such reductions could occur through reduced demand for final goods (for instance by life extension), reduced demand for material use in each product (for instance by lightweight design) or reduced demand for material to make existing products. The last option, improving the yield of manufacturing processes from liquid metal to final product, is attractive in being invisible to the final customer, but has had little attention to date. Accordingly this paper aims to provide an estimate of the potential to make existing products with less liquid metal production. Yield ratios have been measured for five case study products, through a series of detailed factory visits, along each supply chain. The results of these studies, presented on graphs of cumulative energy against yield, demonstrate how the embodied energy in final products may be up to 15 times greater than the energy required to make liquid metal, due to yield losses. A top-down evaluation of the global flows of steel and aluminium showed that 26% of liquid steel and 41% of liquid aluminium produced does not make it into final products, but is diverted as process scrap and recycled. Reducing scrap substitutes production by recycling and could reduce total energy use by 17% and 6% and total CO 2 emissions by 16% and 7% for the steel and aluminium industries respectively, using forming and fabrication energy values from the case studies. The abatement potential of process scrap elimination is similar in magnitude to worldwide implementation of best available standards of energy efficiency and demonstrates how decreasing the recycled content may sometimes result in emission reductions. Evidence from the case studies suggests that whilst most companies are aware of their own yield ratios, few, if any, are fully aware of cumulative losses along their whole supply chain. Addressing yield losses requires this awareness to motivate collaborative approaches to improvement. © 2011 Elsevier B.V. All rights reserved.

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A combined hot and cold smoking kiln has been constructed for use at Lake Turkana, Kenya. Used for cold smoking, the kiln's main advantages over the traditional kilns used in this area are its greater smoking capacity and lower firewood consumption. Having the option of using the same smoke house for cold and hot smoking reduces the total construction costs for an operator producing both types of smoke cured product. The hot smoking process was found to require markedly less firewood than cold smoking, a fact of considerable importance in desert or semi-desert areas with sparse vegetation.

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Consumer goods manufacturers aiming to reduce the environmental impact associated with their products commonly pursue incremental change strategies, but more radical approaches may be required if we are to address the challenges of sustainable consumption. One strategy to realize step change reductions is to prepare a portfolio of innovations providing different levels of impact reduction in exchange for different levels of organizational resource commitment. In this research a tool is developed to support this strategy, starting with the assumption that through brainstorming or other eco-innovation approaches, a long-list of candidate innovations has been created. The tool assesses the potential greenhouse gas benefit of an innovative option against the difficulty of its implementation. A simple greenhouse gas benefit assessment method based on streamlined LCA was used to analyze impact reduction potential, and a novel measure of implementation difficulty was developed. The predictions of implementation difficulty were compared against expert opinion, and showed similar results indicating the measure can be used sensibly to predict implementation difficulty. The assessment of the environmental gain versus implementation difficulty is visualized in a matrix, showing the trade-offs of several options. The tool is deliberately simple with scalar measures of CO 2 emissions benefits and implementation difficulty so tool users must remain aware of other potential environmental burdens besides greenhouse gases (e.g. water, waste). In addition, although relative life cycle emissions benefits of an option may be low, the absolute impact of an option can be high and there may be other co-benefits, which could justify higher levels of implementation difficulty. Different types of consumer products (e.g. household, personal care, foods) have been evaluated using the tool. Initial trials of the tool within Unilever demonstrate that the tool facilitates rapid evaluation of low-carbon innovations. © 2011 Elsevier Ltd. All rights reserved.

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As a potential poverty reduction and climate change strategy, this paper considers the advantages and disadvantages of using renewable energy technologies for rural electrification in developing countries. Although each case must be considered independently, given a reliable fuel source, renewable energy mini-grids powered by biomass gasifiers or micro-hydro plants appear to be the favoured option due to their lower levelised costs, provision of AC power, potential to provide a 24. h service and ability to host larger capacity systems that can power a wide range of electricity uses. Sustainability indicators are applied to three case studies in order to explore the extent to which sustainable welfare benefits can be created by renewable energy mini-grids. Policy work should focus on raising awareness about renewable energy mini-grids, improving institutional, technical and regulatory frameworks and developing innovative financing mechanisms to encourage private sector investments. Establishing joint technology and community engagement training centres should also be encouraged. © 2011 Elsevier Ltd.

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The South China tiger Panthera tigris amoyensis is the rarest of the five living tiger subspecies, the most critically threatened and the closest to extinction. No wild South China tigers have been seen by officials for 25 years and one was last brought into captivity 27 years ago. The 19 reserves listed by the Chinese Ministry of Forestry within the presumed range of the tiger are spatially fragmented and most are too small to support viable tiger populations. Over the last 40 years wild populations have declined from thousands to a scattered few. Despite its plight and occasional anecdotal reports of sightings by local people, no intensive field study has been conducted on this tiger subspecies and its habitat. The captive population of about 50 tigers, derived from six wild-caught founders, is genetically impoverished with low reproductive output. Given the size and fragmentation of potential tiger habitat, saving what remains of the captive population may be the only option left to prevent extinction of this tiger subspecies, and even this option is becoming increasingly less probable. This precarious dilemma demands that conservation priorities be re-evaluated and action taken immediately to decide if recovery of the wild population will be possible.

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We study three contractual arrangements—co-development, licensing, and co-development with opt-out options—for the joint development of new products between a small and financially constrained innovator firm and a large technology company, as in the case of a biotech innovator and a major pharma company. We formulate our arguments in the context of a two-stage model, characterized by technical risk and stochastically changing cost and revenue projections. The model captures the main disadvantages of traditional co-development and licensing arrangements: in co-development the small firm runs a risk of running out of capital as future costs rise, while licensing for milestone and royalty (M&R) payments, which eliminates the latter risk, introduces inefficiency, as profitable projects might be abandoned. Counter to intuition we show that the biotech's payoff in a licensing contract is not monotonically increasing in the M&R terms. We also show that an option clause in a co-development contract that gives the small firm the right but not the obligation to opt out of co-development and into a pre-agreed licensing arrangement avoids the problems associated with fully committed co-development or licensing: the probability that the small firm will run out of capital is greatly reduced or completely eliminated and profitable projects are never abandoned.

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Decision-making in the façade design process has a significant influence on several aspects of indoor environment, thereby making it a complex and multi-objective optimisation process. There are two principal barriers in the process of indentifying an optimal façade solution. Firstly, most existing indoor environmental evaluation methods do not account for all the indoor environmental quality (IEQ) aspects relevant to façade design. Secondly, the relationship between the physical properties of a particular façade design option and the resulting economic benefits accrued during its service-life is unknown. In this paper, we introduce the bases for establishing relationships between occupant productivity and the combinatorial effects of four key façade-related IEQ aspects, namely, thermal comfort, aural comfort, visual comfort and air quality, on occupant productivity. The proposed framework's potential is tested against seven existing experimental investigations and its applicability is illustrated by a simple façade design example. The proposed approach ultimately aims to provide a quantitative economic measure of alternative façade design options that would be applicable to early design stage. Aspects of the work that require further experimental validation are identified. © 2012 Elsevier Ltd.

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There is potential to extract energy from wastewater in a number of ways, including: kinetic energy using micro-hydro systems, chemical energy through the incineration of sludge, biomass energy from the biogas produced after anaerobic sludge digestion, and thermal energy as heat. This paper considers the last option and asks how much heat could be recovered under UK climatic conditions and can this heat be used effectively by wastewater treatment plants to reduce their carbon footprint? Four wastewater treatment sites in southern England are investigated and the available heat that can be recovered at those sites is quantified. Issues relating to the environmental, economic and practical constraints on how energy can be realistically recovered and utilised are discussed .The results show there is a definite possibility for thermal energy recovery with potential savings at some sites of up to 35,000 tonnes of total long-cycle carbon equivalent (fossil fuel) emissions per year being achievable. The paper also shows that the financial feasibility of three options for using the heat (either for district heating, sludge drying or thermophilic heating in sludge digestion processes) is highly dependant upon the current shadow price of carbon. Without the inclusion of the cost of carbon, the financial feasibility is significantly limited. An environmental constraint for the allowable discharge temperature of effluent after heat-extraction was found to be the major limitation to the amount of energy available for recovery. The paper establishes the true potential of thermal energy recovery from wastewater in English conditions and the economic feasibility of reducing the carbon footprint of wastewater treatment operations using this approach.

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Quantum key distribution (QKD) uniquely allows distribution of cryptographic keys with security verified by quantum mechanical limits. Both protocol execution and subsequent applications require the assistance of classical data communication channels. While using separate fibers is one option, it is economically more viable if data and quantum signals are simultaneously transmitted through a single fiber. However, noise-photon contamination arising from the intense data signal has severely restricted both the QKD distances and secure key rates. Here, we exploit a novel temporal-filtering effect for noise-photon rejection. This allows high-bit-rate QKD over fibers up to 90 km in length and populated with error-free bidirectional Gb/s data communications. With high-bit rate and range sufficient for important information infrastructures, such as smart cities and 10 Gbit Ethernet, QKD is a significant step closer towards wide-scale deployment in fiber networks.

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Humans are creatures of routine and habit. When faced with situations in which a default option is available, people show a consistent tendency to stick with the default. Why this occurs is unclear. To elucidate its neural basis, we used a novel gambling task in conjunction with functional magnetic resonance imaging. Behavioral results revealed that participants were more likely to choose the default card and felt enhanced emotional responses to outcomes after making the decision to switch. We show that increased tendency to switch away from the default during the decision phase was associated with decreased activity in the anterior insula; activation in this same area in reaction to "switching away from the default and losing" was positively related with experienced frustration. In contrast, decisions to choose the default engaged the ventral striatum, the same reward area as seen in winning. Our findings highlight aversive processes in the insula as underlying the default bias and suggest that choosing the default may be rewarding in itself.

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In the face of increasing demand and limited emission reduction opportunities, the steel industry will have to look beyond its process emissions to bear its share of emission reduction targets. One option is to improve material efficiency - reducing the amount of metal required to meet services. In this context, the purpose of this paper is to explore why opportunities to improve material efficiency through upstream measures such as yield improvement and lightweighting might remain underexploited by industry. Established input-output techniques are applied to the GTAP 7 multi-regional input-output model to quantify the incentives for companies in key steel-using sectors (such as property developers and automotive companies) to seek opportunities to improve material efficiency in their upstream supply chains under different short-run carbon price scenarios. Because of the underlying assumptions, the incentives are interpreted as overestimates. The principal result of the paper is that these generous estimates of the incentives for material efficiency caused by a carbon price are offset by the disincentives to material efficiency caused by labour taxes. Reliance on a carbon price alone to deliver material efficiency would therefore be misguided and additional policy interventions to support material efficiency should be considered. © 2013 Elsevier B.V.