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The analysis of risk awareness should be the initial stage in integrated natural hazard risk management to promote appropriate and effective measures for mitigating risks and strengthening social resilience inside the multi-risk framework. Nevertheless, earlier studies focused on cross-sectional data and overlooked the changes in risk awareness levels and associated independent variables with time. This study analyzes for the first time a balanced nationwide panel dataset of 1612 respondent-year observations from Switzerland (period 2015-2021, including the epidemic of COVID-19) to examine and compare the effects of potential independent variables on the four dimensions of natural hazard risk awareness (NHRA), ranging from the broadest dimension of Relevance to higher dimensions of Perceived Probability of an event, Perceived Threat to life and valuables, and Perceived Situational Threat. The analysis in this study incorporates multiple methods of Random-Effect Model (RE), Generalized Linear Model (GLM), and mediation analysis. Results show that NHRA increased in Switzerland to different extents (up to 23.24%) depending on the dimension. Event memory, perceived information impact and reported individual informed level appeared to be the most consistent independent variables positively influencing panel NHRA. Among these, perceived information impact as an important indicator of risk communication, was also found to serve as a mediator from risk preparedness to risk awareness. By encouraging residents to engage in "Begin Doing Before Thinking" (BDBT) programs to leverage subliminal effects and self-reflection, this study proposes that behavior-cognition feedback loops may facilitate a virtuous cycle. Our promising observations provide recommendations for an effective awareness-rising strategy design and suggest extensive insights from potential short-interval panel analysis in the future., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2024 The Authors. Published by Elsevier Ltd.. All rights reserved.)

A significant body of research has documented the profound changes in global atmospheric conditions during the COVID-19 pandemic. However, there is still an inadequate comprehensive comparison and assessment of countries before, during, and after the pandemic. Variations in restriction policies, human behaviors, and national traits lead to significant differences in how restriction policies affect atmospheric pollution. This study focuses on NO 2 , a pollutant with high temporal sensitivity, and utilizes the Oxford COVID-19 policy stringency index along with demographic information. Through spatial-temporal mapping, we analyzed NO 2 emission fluctuations and calculated the emission changes in each country. Drawing from this analysis, we explored the relationships among these factors and found that over the span of 2019-2022, across 193 countries, global NO2 emissions displayed a distinct trajectory: initially decreasing, subsequently rebounding, and eventually fluctuating. Most countries exhibited seasonal variations in NO2 emissions. Additionally, the study uncovered a correlation between the stringency of COVID-19 policies and the reduction in NO2 emissions: as policies became stricter, emissions significantly decreased in most countries. In contrast, in countries with lower population densities, stricter policies paradoxically led to an increase in emissions. These findings underscore the importance of considering demographic factors and geographical context in the formulation and implementation of environmental policies., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

Improving the resilience of wastewater treatment facilities (WWTFs) has never been more important with rising risks of disasters under climate change. Beyond physical damages, non-physical shocks induced by disasters warrant attention. Human mobility is a vital mediator in transferring the stresses from extreme events into tangible challenges for urban sewage systems by reshaping influent characteristics. However, the impact path remains inadequately explored. Leveraging the stay-at-home orders during the COVID-19 pandemic as a natural experiment, this study aims to quantify and interpret the heterogeneous impacts of mobility reduction on the influent characteristics of WWTFs with different socio-economic, infrastructural, and climatic conditions. To achieve this goal, we developed a research framework integrating causal inference and interpretable machine learning techniques. Based on the empirical data from China, we find that 79.1% of the studied WWTFs, typically located in cities with well-developed drainage infrastructures and low per capita water usage, exhibited resilience against drastic mobility reduction. In contrast, 20.9% of the studied WWTFs displayed significant variations in influent characteristics. Large-capacity WWTFs in subtropical regions encountered challenges with low-load operations, and small-capacity facilities in suburban areas grappled with nutrient imbalances. This study provides valuable insights to equip WWTFs in anticipating and adapting potential variations in influent characteristics triggered by mobility reduction., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

The digital economy (DIE), a new economic form with digitalization at its core, has become an important driving force for promoting regional economy development. In the context of the COVID-19 pandemic, exploring the impact path of the DIE on carbon emission efficiency (CEE) is conducive to giving full play to the "carbon-reduction-and-efficiency-enhancement" role of the DIE, and to promoting the realization the "dual carbon" goal of carbon peak and carbon neutrality. In this paper, the Yellow River Basin (YRB) and the Yangtze River Economic Belt (YREB) are taken as study areas, the panel Tobit model is used to explore the impact of the DIE on CEE, and the intermediary-effect model and threshold-effect model are constructed to test the intermediary and threshold effects of technological innovation, respectively. The results show that the DIE has a U-shaped nonlinear impact on CEE in both the YRB and the YREB and that the impact has regional heterogeneity. Technological innovation can play a mediating effect between the DIE and CEE, whereas the mediating effect in the YRB is stronger than that in the YREB. Technological innovation has a threshold effect on the DIE to improve CEE, while the threshold value in the YREB is higher than that in the YRB. Furthermore, this paper proposes some suggestions to guide regional low-carbon and sustainable development., Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper., (Copyright © 2024 Elsevier Ltd. All rights reserved.)

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]