In the second part of this series we explore how to construct an economic network representation of the public procurement universe
This is the second in a series of posts where we explore the role of Open Data and Open Source in enabling and accelerating the broad based effort towards Green Public Procurement (GPP).
In the first part of this series we survey the TED procurement data landscape to build the context in which we will explore the relevance of this open data set for green public procurement
In a series of posts we will explore the role of Open Data and Open Source in enabling and accelerating the broad based effort towards Green Public Procurement (GPP). There are several important (and possibly obscure) terms in this sentence, so our first order of business will be to unpack them.
We are very happy to announce that our EU Datathon 2022 proposal based on the equinox platform has been pre-selected to enter the formal stage of the competition
The EU Datathon is an annual Open Data competition organised by the Publications Office of the European Union since 2017. The competitions are organised to create new value for citizens through innovation and promoting the use of open data, in particular the datasets available on the official portal for European data.
On Earth Day 2022 we are happy to release a significant update of Equinox, the open source platform supporting sustainable portfolio management
Equinox is an open source platform that supports holistic risk management and reporting in the context of Sustainable Portfolio Management. The platform integrates geospatial information with applicable regulatory and industry standards, for example the GHG Protocol (accounting for Project based, Corporate and City-Wide greenhouse gas emissions), the IPCC Emissions Factor database and further reference data, the PCAF attribution methodologies (and more) to provide a holistic view of the footprint of both individual projects and portfolios.
A taxonomy is the categorization of concepts. It can be a very useful tool in supporting effective knowledge management. Fundamentally a taxonomy is a scheme of classification, typically a hierarchical classification, in which things or concepts are organized into groups or types of increasing specificity.
We discuss the relation of economic input-output models with graph theory and networks
The objective of the course is to discuss the relation of economic input-output models with graph theory and networks.
A DeepDive Course into using Python to work with Input-Output Models
Environmentally Extended Multi-Regional Input-Output (EE-MRIO) tables describe economic relationships of economic actors (e.g. industrial sectors) operating within and between regions and their environmental repercussions.
An EE MRIO augments the more basic and historically first proposed Input-Output Models (IO) with additional datasets and/or modeling assumptions in order to provide insights into the environmental foorprint of economic activity. Presently, the emphasis on negative externalities of economic activity (e.g., climate change, biodiversity loss) turns EE MRIO models into a useful conceptual and analytic tool. Yet a good grounding on the underlying IO models is a prerequisite and this is the focus of this new course that is now available at the Open Risk Academy.
In the latest update of the Equinox Project we discuss the integration of reference data an in particular greenhouse gas emissions factors as catalogued in the IPCC Emissions Factors database (EFDB).
Equinox is an open source platform that supports the holistic risk management and reporting of major sustainable finance projects (the financing of projects with material physical footprint) such as project finance.
Equinox aims to integrate in the database a number reference databases that facilitate tasks of sustainable portfolio management. In the current focus such reference material concerns the emissions factors for various processes and activities. In the latest (Solstice Day!) update of the Equinox Project we discuss the integration of reference data an in particular greenhouse gas emissions factors as catalogued in the IPCC Emissions Factors database (EFDB).
We develop an analytic framework that synthesizes current approaches to sustainable portfolio management in the context of addressing climate change. We discuss the different required information layers, approaches to emissions accounting, attribution and forward-looking limit frameworks implementing carbon budget constraints.
The frontpage graphic is adapted from Steffen et al. “Planetary Boundaries: Guiding human development on a changing planet”. Science (2015). The Planetary Boundaries concept was proposed in 2009 by this group of Earth system and environmental scientists. The group suggested that finding a “safe operating space for humanity” is a precondition for sustainable development. The framework is based on scientific evidence that human actions since the Industrial Revolution have become the main driver of global environmental change.
We develop an analytic framework that synthesizes current approaches to sustainable portfolio management in the context of addressing climate change. We discuss the different required information layers, approaches to emissions accounting, attribution and forward-looking limit frameworks implementing carbon budget constraints.
The Sustainable Finance forum is dedicated to news, events, ideas, research, funding, data and tools relevant to sustainable finance and has just crossed the five thousand member threshold!
What is “Sustainable Finance”? A working definition is: A financial system that takes into account environmental, social and governance considerations to ensure long term sustainability of the human economy.
You can imagine that with a scope and ambition that sweeping, the devil hidden in the details will be of gargantuan size. The definitions of so-called ESG factors, the incorporation of sustainability into business strategies, the governance, policies and risk management applicable to ESG Risks, the ESG and climate-related disclosures and the development of “green” financial products are all topics that combine urgency, complexity and potentially dramatic impact.
Sustainability is frequently depicted as an emissions curve to bend, or a temperature threshold not to exceed. A useful visual model is to see sustainability as a surface of possibilities. Achieving environmental objectives still allows widely differing choices that may not all be equally desirable.
The opening of the Global Scenario Group report “Bending the Curve: Toward Global Sustainability” by Paul Raskin, Gilberto Gallopin, Pablo Gutman, Al Hammond and Rob Swart, published in 1998 goes as follows:
Risk Management means different things to different people. In this post we explore some truths about professional risk management that highlight both the challenges it is facing as a discipline and the significant role it can play towards a sustainable future
Informal Risk Management has been practiced by individuals since time immemorial. This is the domain of intuitive decision-making, assessing a situation on the spot and taking immediate action to avoid obvious risks.
On Earth Day 2021 we are happy to launch Equinox, an open source platform supporting sustainable project finance
Equinox is an open source platform that supports holistic risk management and reporting of Sustainable Finance (Sustainable Portfolio Management). The platform integrates geospatial information with applicable regulatory and industry standards from EBA, PCAF and Equator Principles to provide a holistic view of the footprint of both individual projects and portfolios, in particular of project finance investments.
What is the future of stress testing? We speculate on how stress testing might look like in 2031
To speculate on the future of Stress Testing we need first a basic definition what stress testing is. Broadly speaking, the goal of Stress Testing is to assess how a system would behave under adverse conditions that - while not the most likely outcome with the knowledge of today - are within the realm of the plausible.
Is Global Debt Truly Astronomical?
The notion of astronomical numbers and figures is quite frequently seeping in everyday language when large quantities of something are encountered in “normal” life. The strict definition of astronomical is obviously something of, or relating to, astronomy and astronomical observations but in common usage it also denotes something enormously or inconceivably large. This is, of course, because astronomical figures are inconceivably large!
The integration of climate risk and broader sustainability constraints into risk management is a monumental task and many tools are still lacking. Yet there is strong support and bold initiatives from policy bodies and an increasing focus from the private sector side.
Visualization can produce significant new insights when applied to quantitative data. It is currently undergoing a renaissance that mirrors other developments in computing and data science. Sophisticated open source libraries such as d3.js or matplotlib, to name but a couple, are enabling an ever wider range of users to distill valuable information from the avalanche of data being produced.
Accounting probably would not count among the more glamorous of professions. The reasons for that status and whether it is justified are beyond the scope of this brief commentary.
What is interesting to note, though, is that the relative attractiveness of accounting is arguably improving, driven by a number of systemic societal developments:
2017 is shaping to be the year of #regtech, aka new technology startups setting up digital shop to help the financial services sector cope with its heavy regulatory burden. But what is regulation? Why is it a burden and how does it relate to real risks and risk management?