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This paper analyses the transition of Ethereum (ETH) from the energy-intensive Proof-of-Work (PoW) to the less energy-intensive Proof-of-Stake (PoS). We analyze returns, volatility, return correlations and volume of ETH, ETC and Bitcoin for all events in the lead-up to the actual change from PoW to PoS also labelled "the merge." The analysis suggests that some investors value the less energy-intensive mining mechanism and invest in ETH. However, since the overall effect is weak, we conclude that despite all the media attention and the stated concerns about the high energy-intensity of Bitcoin and PoW, most investors do not react to the change with an increased investment in Ethereum. • Financial effects of Ethereum's transition from energy-intensive Proof-of-Work to less energy-intensive Proof-of-Stake. • Analysis of returns, volatility, return correlations and volume of ETH, ETC and Bitcoin. • We identify no material financial effects for Ethereum, despite global concerns and media focus on Bitcoin's energy use. [ABSTRACT FROM AUTHOR]

Circular economy (CE) aims at sustainable development (SD) by focusing more on renewable sources of energy and precise management of waste to i) guarantee the secure access to resources, ii) combat climate change and global warming. Environmental issues arising from energy use and lack of policies to monitor them challenge sustainable development. Circular economy emphasizes the economic development with the least amount of undesirable environmental impacts. To evaluate the environmental performance of decision-making units (DMUs) with data envelopment analysis (DEA), this paper develops a common set of weights (CSW) model using the ideal point method. Therefore, energy and environmental efficiency of the organization for economic cooperation and development (OECD) countries is analyzed using the Malmquist productivity index (MPI) during 2012–2015. Although Switzerland has the highest energy and environmental efficiency during 2012–2014, findings indicate that Ireland and the USA have continuously improved their energy and environmental efficiency. • Developing common set of weight models based on ideal point method. • Common weight analysis of Malmquist productivity index. • Guaranteeing the unique optimal solution for policy making. • Analysing the energy and environmental performance of OECD countries. • Dealing with undesirable outputs for efficiency analysis. [ABSTRACT FROM AUTHOR]

This paper summarises the methodology and results of work involved in the investigation of energy demand in six Chinese villages included in the SUCCESS Project. The procedures used to collect data associated with local energy demand are explained and the approach to data analysis is explained. Results are provided in terms for delivered energy consumption, as an indicator of energy demand; primary energy consumption, as an indicator of energy resource depletion; and carbon dioxide emissions, as an indicator of global climate change. Similarities and differences between results for this sample of villages are considered. The important causes of differences in results are investigated. [Copyright &y& Elsevier]

To tackle climate change, Chinese government has applied an array of mitigating measures to reduce CO2 emissions. During the 11th Five-year Plan, Chinese government set the emission reduction target policy to reduce energy consumption per unit of gross domestic product (GDP) by 20%. This paper attempts to estimate the effect of this emission reduction target policy on industrial performance from complexity perspective. The result shows more complex industrial structure is related to less coal consumption. In general, emission reduction target policy has a negative effect on the probability of branching into new industries and lower the productivity and profitability of a given industry. However, this negative effect is weaker for more complex industries. Only for industries with very high complexity, emission reduction target policy can improve the performance of an industry rather than exerting a negative effect. Our finding not only helps to design a more effective policy to achieve industrial development strategy, but also provides a potential way to achieve economic growth while reduce the emission of greenhouse gases at the same time. • We investigate the impact of Emission reduction target policy(ERT) on industrial performance from complexity perspective. • We apply the method of reflection to calculate the Economic Complexity of provinces and Industry Complexity of industries. • More complex industrial structure contributes to the coal consumption reduction. • ERT has negative effects on the probability of branching into new industries, lowers the productivity and profitability of a given industry. • ERT has weaker negative effects for more complex industries. [ABSTRACT FROM AUTHOR]

Toll plazas are places on the road network where increased emissions of exhaust gases occur due to changes in vehicle driving regime in their corresponding impact areas. Therefore, they provide a great potential in terms of the ability to significantly reduce the emission of pollutants by using advanced technologies. In light of this, this paper aims at getting the most accurate quantification of pollutant emission (CO, CO2, HC and NOx) for the various vehicle categories which use Manuel System (MS), Electronic toll collection (ETC) with mechanical barriers and Multi Lane Free Flow (MLFF) system, for determining ecological benefits that can be achieved using advanced tolling systems. The measurement of the emission of harmful gases was carried out in real field conditions for the five most common classes of passenger cars, light truck and semi-trailer-truck. Vehicle speed, fuel consumption and emission of pollutants were recorded every second, in various driving processes in the impact areas of toll plazas, as well as in numerous scenarios that involve a different number of vehicles in a queue. The obtained results show that the use of the MLFF system, compared to the MS, can achieve a reduction in CO2 in the range of 25%–45% and the reduction in NOx in the range of 32%–98%, depending on the type of vehicle and the considered scenario. The case study of the tolling system in the Republic of Serbia, on a sample of 77,408,112 vehicles, has shown that moving from the existing to an advanced MLFF tolling system allows for annual ecological benefits ranging from 1,349,862 € to 1,491,391 €. • Field research of car and truck pollutant emission using different toll systems. • Determination of emission of different driving modes for the tested toll systems. • Significant ecological benefits achieved by the advanced toll system implementation. • Contribution to reduction of greenhouse gases, global warming and climate change. • Ecological benefits quantified through the Case Study of the Republic of Serbia. [ABSTRACT FROM AUTHOR]