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The impact investing literature largely focuses on private equity investing and overlooks the investments made through debt financing that actually dominate the market. To address this research gap, this paper investigates whether impact financing is associated with financial benefits. By using COVID-19 as an exogenous shock to China's stock market, this paper applies fixed effects panel data analysis with a difference-in-differences research design to provide robust empirical outcomes. The results reveal those financial institutions that better integrated environmental impacts into their financing process experienced positive stock return changes in response to the shock. This study answers the question of how well an impact scales. The findings suggest that impact financing is an effective model, as the impacts incorporated in the debt can be scaled up compared to impact investing funds with low volumes. Impact financing has enormous potential for financial institutions to engage in the green transition since they can derive pecuniary utility while delivering environmental impacts. The revelation of financial benefits also contributes to overcoming the lack of knowledge about impact financing and helps to remove the barriers that advance industry growth. • This paper studies whether impact financing is associated with financial benefits. • Financial firms that better integrate environmental impact in financing have positive stock return changes during COVID-19. • Financial firms can derive pecuniary utility from pursuing impact financing. • The findings suggest that impact financing can be an effective model to bring impact to a substantial scale. [ABSTRACT FROM AUTHOR]

The aim of this paper is to examine the return connectedness and multiscale spillovers between the Clean Energy Index and the grain commodity market around COVID-19. Using daily data from January 4, 2017 to July 1, 2022, a time-varying parametric vector autoregressive (TVP-VAR) connectedness approach is first used to reveal connectedness patterns before and during COVID-19. We further used Baruník and Křehlík (2018)'s frequency domain spillover method to assess connectedness in different domain horizons. Our results show spillover effects over time and frequency, with COVID-19 significantly affecting the connectedness of the whole system. Dynamic connectedness peaks significantly after sudden bursts of COVID-19, validating the reported uncertainty. We also documented higher spillover levels in the short term than in the medium and long term. In addition, We find that (i) most clean energy indices are positively affected by the COVID-19 outbreak; (ii) the NASDAQ OMX Bio/Clean Fuels Index and NASDAQ OMX Geothermal Index send spillovers to all grain commodities throughout the sample period, while the WilderHill Clean Energy Index and NASDAQ OMX Wind Energy Index indices are the largest recipients of spillovers from other markets regardless of time horizon; (iii) the OMX Bio/Clean Fuels and OMX Geothermal Energy indices dominate spillover shocks to grain commodity markets. This is the first study to analyse the connectedness and time-frequency dynamics of returns in the green energy index and the grain commodity market. These results provide valuable insights to investors and key policymakers, especially at a time of more significant uncertainty. • Examine the return connectedness between the Clean Energy Index and the grain commodity market. • Dynamic connectedness peaks significantly after sudden bursts of COVID-19. • Higher spillover levels in the short term than in the medium and long term. • OMX Bio/Clean Fuels and OMX Geothermal Energy indices dominate spillover shocks to grain commodity markets. [ABSTRACT FROM AUTHOR]

Wastewater monitoring as a public health tool is well-established and the SARS-CoV-2 (COVID-19) pandemic has seen its widespread uptake. Given the significant potential of wastewater monitoring as a public health surveillance and decision support tool, it is important to understand what measures are required to allow the long-term benefits of wastewater monitoring to be fully realized, including how to establish and/or maintain public support. The potential for positive SARS-CoV-2 detections to trigger enforced, community-wide public health interventions (e.g., lockdowns and other impacts on civil liberties) further emphasises the need to better understand the role of public engagement in successful wastewater-based monitoring programs. This paper systematically reviews the processes of building and maintaining the social license to operate wastewater monitoring. We specifically explore the relationship between different stakeholder communities and highlight the information and actions that are required to establish a social license to operate and then prevent its loss. The paper adds to the literature on social license to operate by extending its application to new domains and offers a dynamic model of social license to help guide the agenda for researcher and practitioner communities. • The requirement for social license to undertake wastewater monitoring is systematically scrutinized. • A dynamic framework for social license to monitor for COVID-19 is developed and presented. • Important gaps and additional steps for maintaining social license are identified. [ABSTRACT FROM AUTHOR]

The emergence of the novel coronavirus has necessitated immense research efforts to understand how several non-environmental and environmental factors affect transmission. With the United States leading the path in terms of case incidence, it is important to investigate how weather variables influence the spread of the disease in the country. This paper assembles a detailed and comprehensive dataset comprising COVID-19 cases and climatological variables for all counties in the continental U.S. and uses a developed econometric approach to estimate the causal effect of certain weather factors on the growth rate of infection. The results indicate a non-linear and significant negative relationship between the individual weather measures and the growth rate of COVID-19 in the U.S. Specifically, the paper finds that a 1 °C rise in daily temperature will reduce daily covid growth rate in the U.S. by approximately 6 percent in the following week, while a marginal increase in relative humidity reduces the same outcome by 1 percent over a similar period. In comparison, a 1 m/s increase in daily wind speed will bring about an 8 percent drop in daily growth rate of COVID-19 in the country. These results differ by location and are robust to several sensitivity checks, so large deviations are unexpected. • This paper develops a temporal model to estimate daily weather fluctuation's effects on growth rate of COVID-19 infection. • Marginal increases in temperature, relative humidity and wind speed reduces COVID-19 growth rate. • The effect of weather fluctuations on COVID-19 growth rate is non-linear. • The impact of weather changes differ by geography. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has imposed a global emergency and also has raised issues with waste management practices. This study emphasized the challenges of increased waste disposal during the COVID-19 crisis and its response practices. Data obtained from the scientific research papers, publications from the governments and multilateral organizations, and media reports were used to quantify the effect of the pandemic towards waste generation. A huge increase in the amount of used personal protective equipments (facemasks, gloves, and other protective stuffs) and wide distribution of infectious wastes from hospitals, health care facilities, and quarantined households was found. The amount of food and plastic waste also increased during the pandemic. These factors caused waste treatment facilities to be overwhelmed, forcing emergency treatment and disposals (e.g., co-disposal in a municipal solid waste incinerator, cement kilns, industrial furnaces, and deep burial) to ramp up processing capacity. This paper discussed the ways the operation of those facilities must be improved to cope with the challenge of handling medical waste, as well as working around the restrictions imposed due to COVID-19. The study also highlights the need for short, mid, and longer-term responses towards waste management during the pandemic. Furthermore, the practices discussed in this paper may provide an option for alternative approaches and development of sustainable strategies for mitigating similar pandemics in the future. [Display omitted] • COVID-19 exhibited great challenges and practices on waste management. • The discarded facemask was estimated during COVID-19 pandemic. • Immediate responses and technological approach for COVID-19 crisis were reviewed. • MSW incinerator, industrial furnace, cement kiln can be used as emergency disposal. • Short and mid-longer term responses in waste management were provided. [ABSTRACT FROM AUTHOR]

This paper examines and projects the water use and wastewater generation during and after the SARS-CoV-2 (COVID-19) in China, and discussed the water use/wastewater generation pattern changes among different sectors. Existing studies on the impact of pandemic spread-prevention measures on water consumption and wastewater treatment during the pandemic are reviewed. The water use and wastewater discharge in China through the COVID-19 period are then projected and analyzed using Multivariate Linear Regression. The projection is carried out for years 2019–2023 and covers an (estimated) full process of pre-pandemic, pandemic outbreak, and recovery phase and provides essential information for determining the complete phase impact of the COVID-19. Two scenarios, i.e. the recovery scenario and the business as usual scenario, are set to investigate the water use and wastewater generation characteristics after the pandemic. The results imply that in both scenarios, the water use in China shows a V-shaped trend from 2019 to 2023 and reached a low point in 2020 of 5,813✕108 m3. The wastewater discharge shows an increasing trend throughout the COVID period in both scenarios. The results are also compared with the water consumption and wastewater generation during the SARS-CoV-1 period. The implication for policymakers is the possible increase of water use and wastewater discharge in the post COVID period and the necessity to ensure the water supply and control of water pollution and wastewater discharge. • The impact of the SARS-CoV-2 pandemic on the water sector are reviewed. • Water use and wastewater discharge throughout the COVID-19 period are projected. • Water use in China shows a V-shaped trend from 2019 to 2023. • Wastewater discharge shows an increasing trend throughout the COVID period. • Water use and wastewater discharge during the SARS and the COVID-19 are compared. [ABSTRACT FROM AUTHOR]

The impact of the SARS-CoV pandemic has gone well beyond health concerns, reaching the maritime industry. The study on the environmental impact of shipping industry during COVID-19 pandemic can provide useful insights to propose new management policies regarding shipping operations, both in-port and on the route. We present a case study centred in the Port of Barcelona covering a 30 nautical miles range in the period March to July 2020, during which different levels of restrictions and stringent lockdown measures were enforced. In this paper, we assess the impact of COVID-19 on maritime traffic and its related emissions in port cities using real-time Automatic Identification System (AIS) data. Interestingly, results show that the decline in maritime traffic is not correlated with a decrease in maritime emissions due to changes in vessel operation. During lockdown (March to June 2020), we observed a 27.9% reduction in the number of port calls compared to the pre-lockdown scenario, whereas pollutant emissions show a moderate decrease (1.8% for CO 2), no significant reduction (SO 2 and PM) or a slight increase (1.3% for NO x). This can be directly assigned to changes in vessel operation mode, i.e. vessels switched from Underway to At Anchor or Moored status, during which auxiliary engines are used at higher loads. • The pollutant emissions evolution from maritime activity is computed from AIS data during COVID-19 restrictions in 2020. • A significant reduction in ship calls was observed, with a mild reduction in maritime traffic in the same area. • Passenger vessels were responsible for more than 40% of fuel consumption and emissions, but represented 17% of all vessels • Ships underway dominated the total emissions during lockdown, although theydecreased during this period. [ABSTRACT FROM AUTHOR]

The outbreak of coronavirus disease (COVID-19) not only affected health and economics, but also its effect extended to include other aspects, such as the environment. Using Egypt as a case study, this paper presents the impact of COVID-19 pandemic on air pollution levels by studying nitrogen dioxide (NO 2), ozone (O 3), particulate matter represented in absorbing aerosol index (AAI), carbon monoxide (CO), and greenhouse gas (GHG) emissions. The paper also highlights the impact of COVID-19 pandemic on other environmental indicators including environmental noise, medical and municipal solid wastes. The paper presents the Egyptian COVID-19 story from its different angles including the development of confirmed COVID-19 cases, containment measures from the government, the impact on the country's economy and the national energy consumption so as to effectively evaluate the effect on both the air pollution levels and the other studied environmental indicators. For the other environmental indicators, a strong link was observed between COVID-19 lockdown and the reduction in environmental noise, beaches, surface and groundwater pollution. For environmental noise, this has been confirmed by officially governmental announcements which reported that the level of environmental noise in Egypt was reduced by about 75% during the lockdown period. On the other hand, there are some negative effects, including an increase in medical solid waste (from 70 to 300 ton/day), municipal solid waste, as well as a less efficient solid waste recycling process. For air pollution levels, the data were obtained from National Aeronautics and Space Administration (NASA) and European Space Agency satellite data sets. The data for the lockdown period in 2020 have been extracted and compared to the corresponding months in the selected baseline period (2015–2019) to identify the effect that the lockdown period had on the air pollution levels in Egypt with focus on Cairo and Alexandria governorates. It was found that the AAI decreased by about 30%, the NO 2 decreased by 15 and 33% over Cairo and Alexandria governorates, respectively, and that the CO decreased by about 5% over both governorates. In addition, the GHG emissions in Egypt were reduced by at least 4% during the pandemic. In contrast, ozone levels increased by about 2% over Cairo and Alexandria governorates. It can be concluded that the implemented containment measures during COVID-19 pandemic had resulted in both positive and negative environmental impacts. The positive environmental impacts are not sustainable and deterioration on them is expected to occur after the lockdown as it was before the pandemic. Therefore, stricter laws must be enacted to protect the environment in Egypt. Image 1 • NO 2 decreased over Cairo (~ 15%) and Alexandria (~ 33%). • AAI and GHG emissions of Egypt decreased by about 30% and 4%, respectively. • An increase in ozone level (2%) and a reduction in CO (5%) over Cairo and Alexandria. • Reduction in environmental noise, beaches, surface and groundwater pollution. • Increase municipal and medical wastes and less efficient waste recycling. [ABSTRACT FROM AUTHOR]

Meteorological conditions may influence the incidence of many infectious diseases. Coronavirus disease-2019 (COVID-19) is a highly contagious, air-borne, emerging, viral disease caused by severe acute respiratory syndrome coronavirus-2 (SARS-CoV-2). In 2020, the COVID-19 global pandemic affected more than 210 countries and territories worldwide including Saudi Arabia. There are contradictory research papers about the correlation between meteorological parameters and incidence of COVID-19 in some countries worldwide. The current study investigates the impact of outdoor and indoor meteorological conditions on the daily recorded COVID-19 cases in western region (Makkah and Madinah cities) of Saudi Arabia over a period of 8 months from March to October 2020. Reports of the daily confirmed COVID-19 cases from the webpage of Saudi Ministry of Health (MOH) were used. Considering, the incubation period of COVID-19 which ranged from 2 to 14 days, the relationships between daily COVID-19 cases and outdoor meteorological factors (temperature, relative humidity, and wind speed) using a lag time of 10 days are investigated. The results showed that the highest daily COVID-19 cases in Makkah and Madinah were reported during the hottest months of the year (April–July 2020) when outdoor temperature ranged from 26.51 to 40.71 °C in Makkah and of 23.89–41.20 °C in Madinah, respectively. Partial negative correlation was detected between outdoor relative humidity and daily recorded COVID-19 cases. No obvious correlation could be demonstrated between wind speed and daily COVID-19 cases. This indicated that most of SARS-CoV-2 infection occurred in the cool, air-conditioned, dry, and bad-ventilated indoor environment in the investigated cities. These results will help the epidemiologists to understand the correlation between both outdoor and indoor meteorological conditions and SARS-CoV-2 transmissibility. These findings would be also a useful supplement to assist the local healthcare policymakers to implement and apply a specific preventive measures and education programs for controlling of COVID-19 transmission. [Display omitted] • No significant correlation between outdoor temperature and daily reported COVID-19 cases in western region of Saudi Arabia. • Partial negative association of outdoor relative humidity with daily recorded COVID-19 cases. • Almost all COVID-19 cases result from indoor infection among the households. • Pre-symptomatic and asymptomatic infected individuals facilitate household infection spread. • Prevention of indoor infection assists COVID-19 control especially in tropical and hyper-arid countries. [ABSTRACT FROM AUTHOR]

The aim of this paper is to assess the relationship between COVID-19-related deaths, economic growth, PM 10 , PM 2.5, and NO 2 concentrations in New York state using city-level daily data through two Machine Learning experiments. PM 2.5 and NO 2 are the most significant pollutant agents responsible for facilitating COVID-19 attributed death rates. Besides, we found only six out of many tested causal inferences to be significant and true within the AUPRC analysis. In line with the causal findings, a unidirectional causal effect is found from PM 2.5 to Deaths, NO 2 to Deaths, and economic growth to both PM 2.5 and NO 2. Corroborating the first experiment, the causal results confirmed the capability of polluting variables (PM 2.5 to Deaths, NO 2 to Deaths) to accelerate COVID-19 deaths. In contrast, we found evidence that unsustainable economic growth predicts the dynamics of air pollutants. This shows how unsustainable economic growth could increase environmental pollution by escalating emissions of pollutant agents (PM 2.5 and NO 2) in New York state. [Display omitted] • We assess the effect of economic growth, PM 2.5 and NO 2 variations on COVID-19 deaths. • We employ two experimental approaches based on Deep Machine Learning. • PM 2.5 and NO 2 are the most significant air pollutant responsible for COVID-19 deaths. • Increasing levels of economic growth spur air pollution in New York state. [ABSTRACT FROM AUTHOR]

Circular economy principles were adopted by European Commission, to support a sustainable growth. They contain general rules that should be considered in all situations. At present, during pandemic, some waste disposal practices are under evaluation to guarantee safety conditions. For example, in view of the recent results reporting the presence of SARS-CoV-2 virus in sewage sludge, the possibility that it diffuses in the environment is alarming. The situation may result critical in densely populated cities, which are the largest sources of sewage sludge. In this frame the diffused practice of reuse of this waste in agriculture is under revision. In this context, incineration may represent a valuable alternative strategy to manage sewage sludge during pandemic. Indeed, due to thermal treatment, the destruction of organic micropollutants and pathogens, eventually present in the waste, is guarantee. Moreover, it is fundamental to highlight that also if the management of sewage sludge changes, the ash resulting from its combustion may have suitable reuse opportunities, and their landfilling should be avoided. This work presents the available possibilities of sewage sludge ash recovery in building applications and shows the results obtained by the analysis of their sustainability. The approach is based on the use of embodied energy and carbon footprint values, to make a simple and fast new method able to be a suitable tool to support and promote sustainability also in critical situations (such as pandemic) and when all the information about a technology are not available, making not possible to perform a full-LCA approach. This work aims to be not only a reference paper for promotion of strategies able to increase waste management safety, but also an example showing that circular economy principles should be pursued also if boundary conditions can change. • Sewage sludge incineration is the safest choice for sewage sludge disposal during Covid-19 pandemic. • Sewage sludge ash (SSA) can be reused as adsorbent material and in the manufacture of building materials. • ESCAPE methods can be useful to evaluate the sustainability of SSA. • ESCAPE methods provide a fast analysis during the design phase of the product (preliminary to LCA). [ABSTRACT FROM AUTHOR]