Renewable Energy Investments for Sustainable Business Projects

Bioenergy remains the largest branch of renewable energy, and microalgae are a promising object of research among other types of biomasses whose scale for energy purposes is increasing. On the other hand, the growth of global energy production and urbanization, which results in high rates of municipal waste and wastewater generation, requires the development of integrated technologies that allow waste to be disposed of as fully as possible. Sustainable investments in the production of energy by various technologies are one of the methods to solve this complex problem. In this chapter, we study the methods of microalgae utilization of nutrients from wastewater and by-product liquid waste of sustainable investments from microalgae by hydrothermal liquefaction (HTL) technology. Wastewater has a complex composition, and the treatment of nitrogen and phosphorus and other biogenic elements, as well as heavy metals, using biological objects is optimal and cost-effective. Also the water phase after HTL is a by-product that has limited energy value. Biofuel investments have higher growth rates and at the same time do not compete with the investments in fossil fuels. Biofuel investments' cost of seaweed fuel can be reduced through high-value-added related products, such as food and feed additives, and pharmaceutical and cosmetic products.

The main purpose of this study is to measure financial literacy of individual pension system customers in Ankara and to find out factors affecting financial literacy while acquiring additional information on financial decisions of individual pension system customers. The results show that the self-financial knowledge evaluation of individual pension system customers and their financial literacy are not compatible. Besides, the financial literacy levels of the customers who make their investment themselves and customers who leave investment decision to the individual pension system company are found not to be statistically significant although self-investors believe they have higher financial knowledge. In addition to this, the effects of financial literacy level in terms of renewable energy investments are also evaluated. Individuals with an increasing level of financial literacy may turn to renewable energy sources and investments because of their low-cost and high-return potential.

Aluminum is an exchange commodity. But physical trading of this metal in most cases does not occur on the stock exchange, since more than 90% of aluminum sales with physical delivery occur under direct contracts between producers and buyers of the metal (over-the-counter market). Aluminum as an exchange commodity has standardized consumer properties, namely: the goods are interchangeable, easily transported and stored, and can be divided into batches. That is why upstream products are traded on commodity exchanges, not semifinished products or finished products. When commodity exchanges were first created, they served as a place for concluding physical contracts for the supply of such exchange-traded goods, but with the increase in trading volumes and the development of financial instruments, the role of exchanges has changed. Today, futures contracts for raw materials are traded on them – financial instruments that almost never entail a real physical supply (at the same time, this possibility is not excluded). As a result of the bidding, a price is set that serves as a guideline for producers and consumers around the world.

Food waste (FW) is widely recognized as a serious threat to global food security, the economy, and the environment. FW is a major contributor to the three global crises of climate change, biodiversity loss, and pollution and waste because it complicates waste management systems and worsens the magnitudes of food insecurity. If it were a nation, food loss and waste would be the third-largest source of greenhouse gas (GHG) emissions as revealed by the Food Waste Index Report of 2021 by the United Nations Environment Program (UNEP). The growing countries in the South Asian region are not an exception to this major problem. Under this backdrop, the present study is aimed at investigating the long-term relationships as well as short-term causal interplays between FW and GHG emissions for the South Asian countries from 1990 to 2018. Employing time-series cointegration and Granger causality techniques, the results show that there is long-run relationship between these two variables in Afghanistan, Bangladesh, and Sri Lanka, and the results of the Granger causality test demonstrate that GHG is significantly influenced by FWs in Bangladesh, India, and the Maldives. So the governments in these countries should plan for minimizing the magnitudes of FWs so far as the goal of reaching sustainable development is concerned.

This chapter will focus on renewable energy investments in sustainable business projects from a strategic management and entrepreneurial perspective. It will be questioned what the concept of energy is/should be from the perspective of managers and entrepreneurs. For this purpose, it will start with the significance of energy for these two viewpoints and persist in its linkage with the requirements of energy acquisitions. The subject of energy and energy investments will be associated with concepts such as sustainability, interaction with environmental factors, and competitiveness. To address these concerns, SWOT analysis, resource dependence model, Porter's five forces analysis, the environmental Kuznets curves hypothesis, and strategy tripod perspective – therefore, resource, industry, and institutional-based approaches – will be examined and interpreted with energy and energy investments. In addition, soft issues related to energy will be discussed from the perspective of the entrepreneur, and it will be emphasized that energy and energy investments should be addressed more comprehensively. As a result of all these efforts, it is aimed to contribute to a more stable system for a sustainable and competitive energy policy.

A newly discovered energy source is expected to make a positive contribution to the economic growth of the country. To some extent, it is even thought that this is the underlying difference between developed and developing countries today. However, in history, it is seen that the countries that find new energy sources are not always able to benefit from it. The state mechanism without the necessary financial institutions and absence of dynamic economic and commercial life may lead to the inability to benefit from the newly found energy source. In this study, we will compare two nineteenth-century empires, Ottoman and British, which found coal in their homeland. As history as shown, we argue that the political institutions and the state reflexes are critical when it comes to utilizing a newly found energy source.

Today, the need for renewable energy is rising steadily. Various steps are being taken by nations to address the rising need. The developments occurring in proportion to the industrial structures and economic levels of the countries, these efforts, the political structure of the country, some established patterns from the past, and many other external factors affect the use of renewable energy and therefore sustainable development, which has been one of the most important agendas since the early 1990s. In this study, it is examined whether certain characteristics of the Scandinavian Welfare Model affect the background of this successful image of Finland, Denmark, and Sweden, which rank in the top three positions in both the Global Energy Innovation Index and the Sustainable Development Report. As a result, although the use of fossil fuels increases the ecological footprint in the Scandinavian countries, which are evaluated as in the rest of the world, continuing the principles of innovation, trust, equality, openness, and sustainability with determination, the Nordic approach has not departed from the welfare state principle compatible with its own codes, unlike the transformations experienced by other welfare regimes, and has become a distinctive factor.

It is an established document at the global level that more environmental pollution is associated with more growth of the output for some economies, and on the other hand, more pollution is associated with low growth of output in some other economies. Having the scenario of massive climate change, the global policymakers have been experimenting with drastic reductions in the use of energy and fossil fuels within the target year on 2030 for some countries and 2050 for other countries. The negative impacts of the environmental pollution and the pollution abating targets influence the decision-making processes of the households and business houses around the world. There is thus a potential nexus between the emissions of different greenhouse gases (GHGs) and consumers' and business sentiments in taking optimum decisions. Under this background, this chapter aims to investigate whether GHG emissions and consumers' and business sentiments have any association and interplays for the period 1998–2019 using appropriate econometric exercises. The correlation shows positive results with consumers' sentiments in some developing countries but negative results with business sentiments in some developed countries. Further, there are long-run relationships of GHG with consumers' sentiments and business sentiments in some countries with the mixed results of causal interplays.

The current challenges experienced by all nations promote the trade-off between the increase in economic performance and the protected environment. The investigation based on the energy economy has become an irreplaceable topic to determine the correct path for minimizing the trade-off cost. Within this scope, this study has been performed to investigate the causality nexus between the exports indicators (aggregated exports and the ICT exports) and the energy consumption (renewable and nonrenewable energy consumption of the selected five emerging countries. The Dumitrescu–Hurlin panel causality analysis is performed on the annual data between 2000 and 2014. As a consequence of the evidence, it is documented that there are various causality relationships between the exports and the energy consumption indicators in the light of the performed analysis at different lags. However, the role of nonrenewable energy consumption is more active in the economies of the considered countries. According to the evidence, it is recommended for the emerging countries to invest and allocate more funds to renewable energy resources to diminish the role of nonrenewable energy resources in the economy.

This chapter presents an overview of the Bitcoin and its impacts on the environment and economics from the viewpoint of carrying out a systematic analysis of the literature related to the environmental and economic effect of digital currency. It is aimed to summarize and critically examine the points of view regarding Bitcoin mining, considering its effects on global warming and the social environment, employing peer-reviewed data associated through literatures. As a result, this study provides the chance to analyze the set of knowledge regarding the effects of the Bitcoin mining procedure on the ecosystem in regard to energy use and CO₂ emissions regarding unit root tests and causality test based on nonlinear models. The results show that there exists a nonlinear causal relationship between statistics on Bitcoin mining and the CO₂ emissions. The results also imply that Bitcoin remains to be a tool utilized in the economic environment for a range of objectives despite high energy consumption and some negative environmental impact within the scope of renewable energy; hence, authorities would take Bitcoin mining impacts into account to reduce CO₂ emissions.

In terms of countries, renewable energy sources are increasing their importance day by day. The decrease in fossil fuels and the difficulty of accessing the related fuels as well as their expensiveness can be cited as reasons for this situation. This situation obliges countries to make legal arrangements for the production and use of renewable energy sources in their legal systems. In this context, legal arrangements have been made in Turkey regarding the production and use of related energy resources. One of these regulations is the law dated May 10, 2005 and numbered 5346. The relevant law aims to bring electrical energy to the economy in a reliable, economical, and at the same time high quality way by using renewable energy sources. At the same time, the main purposes of enacting the law include increasing the diversity of resources in energy, reducing greenhouse gas emissions as much as possible, evaluating waste, and protecting the environment. At the same time, the law includes sustainable energy sources. It has been defined as nonfossil energy sources such as hydraulic, wind, solar, geothermal, biomass, waves, currents, and tides. In this context, the main purpose of the study is to examine what renewable energy sources are and to reveal the legal nature of energy services by considering the production and use of renewable energy sources in Turkey in the context of Turkish legal legislation.

The military operation of the Russian Federation on the territory of Ukraine exerted additional pressure on prices on the aluminum market since aluminum supplied by Russia accounts for about 10% of the total volume of US imports. It is known that Russia has become the largest aluminum producer after China, and now there is also an increase in aluminum production. Since electricity prices remain relatively low in Russia, especially in energy-surplus Siberia, the increase in output along with the increase in metal prices is a positive factor, since 70% of the primary aluminum produced is exported and only less than a third is consumed domestically. At the same time, high aluminum prices may constrain the expansion of domestic consumption of the metal and may force manufacturers to look for a cheaper alternative. In general, the increase in aluminum prices coincides with the general “supercycle” of raw materials in the last year and a half, and there is a chance to stabilize aluminum prices at current high levels, which will be facilitated, among other things, by new metallurgical projects in Russia. At the same time, it is worth noting that limited metal supplies will haunt the industry for most of 2022, and some experts predict that it may take up to five years to solve the problems.

Nuclear energy is of vital importance for the energy independence of countries. Therefore, some of the countries have given priority to nuclear energy investments. However, there are some risks in nuclear reactors. For this reason, some countries are uneasy about nuclear energy investments. Thorium-based nuclear power plants are also recommended to minimize these risks. It is possible to talk about many advantages of these power plants. However, there are some negative aspects to these investments. In this study, both positive and negative aspects of thorium-based nuclear power plants are discussed simultaneously. In this context, first, the literature was comprehensively examined, and seven different factors were determined. An analysis is then carried out using the DEMATEL method. It is concluded that the cost and uncertainties have the greatest weight. In addition, suitability and physical and chemical reasons are other significant items. The results obtained show that thorium-based nuclear power plants are not very efficient now. In this context, the costs of thorium-based nuclear reactors should be reduced by new research and development activities. Otherwise, the high-cost problem reduces the efficiency of these reactors. With the developing technology, it is necessary to reduce the high costs. If the costs cannot be reduced, financial sustainability of thorium-based nuclear reactors will not be possible, although there are many benefits.

In scientific works on forecasting price volatility (of which the overwhelming majority, in comparison with works on price forecasting) for energy products: crude oil, natural gas, fuel oil, the authors compared the effectiveness of forecasting models of generalized autoregressive heteroscedasticity (Generalized Autoregressive Conditional Heteroscedastic model, GARCH) with regression of support vectors for futures contracts. GARCH models are a standard tool used in the literature on volatility, and the vector machine nonlinear regression model is one of the machine learning methods that has been gaining huge popularity in recent years. The authors have shown that the accuracy of volatility forecasts for energy and aluminum prices significantly depends on the volatility proxy used. The model with correctly defined parameters can lead to fewer prediction errors than GARCH models when the square of the daily yield is used as an indicator of volatility in the evaluation. In addition, it is difficult to choose the best model among GARCH models, but forecasts based on asymmetric GARCH models are often the most accurate. The work is based on a model with a representative investor who solves the problem of optimizing utility in a two-period model. The key assumption of the model is the homogeneity of energy and aluminum investor preferences, that is, preferences do not change over time. There are also works with an attempt to solve this problem in a continuous state space. A completely new theory has been put forward that allows predicting the movement of the underlying asset without using historical data, so this topic is very relevant.

Increasing dependence on energy in the world, the energy used in production processes being highly dependent on nonrenewable resources, environmental pollution as a result of these activities, and the depletion of natural resources make the continuity of economic development difficult. Environmental negativities as a result of economic production processes pose a serious threat to the future of humanity. It is a social responsibility to make an environmental management plan for the future by turning to renewable energy sources in line with the understanding of sustainability and to act with a strategic approach. The aim of this study is to determine the attitude of consumers, who are an important stakeholder of the institutional system, toward renewable energy sources. In addition, it is aimed to increase social awareness and awareness about renewable energy in the focus of sustainability understanding. In this context, the attitude of Turkish consumers toward renewable energy has been measured. 346 respondents participated the survey. Based on the findings, there is a statistical significance in terms of renewable energy sources' effects on living things factor according to age variable.

Energy, as the most valuable concept of today, works with all disciplines, gains momentum, and increases all kinds of studies on energy and consciousness on the subject. The media provides the most rapid and effective awareness of energy, the requirements for efficient energy use, energy literacy, conscious use, and sustainability. At this stage, content related to all types of topics produced in the digital world gains importance. As communication is carried out with different target groups, public service announcements constitute an important place among the public affairs activities. Public relations can be defined as communication management. In this communication management style, strategic plans are made, and attitudes and behavior changes can be obtained through the target groups. It is aimed at delivering the content produced through mass media in public service announcements to individuals. The public is educated and made aware of the issues that are of concern to them. With these short announcements, information is provided on health, education, etc., and awareness is created for these issues. Public interests are taken as the basis for messages that do not have a commercial aspect and do not cover a very long time. In the study, the importance of public service announcements on energy efficiency is evaluated, and within the scope of the research, semiotic analysis will be made of the contents of the YouTube page of the Ministry of Energy and Natural Resources. At this point, the issues and indicators emphasized in public service announcements on energy will be analyzed.