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Risk Analysis and Decision Making for Sustainable Development
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Risk Analysis and Decision Making for Sustainable Development

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (24 March 2024) | Viewed by 8779

Special Issue Editors

Dr. Chuanmin Mi

E-Mail Website
Guest Editor
College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, China
Interests: risk management; decision making; information management and system; power system
Dr. Wang Luo

E-Mail
Guest Editor
Nari Group Corporation, Nanjing, China
Interests: risk management; safety management
Dr. Jian Liu

E-Mail Website
Guest Editor
School of Economics and Management, Nanjing University of Science and Technology, Nanjing, China
Interests: decision making; risk management; revenue management

Special Issue Information

Dear Colleagues,

In today's context of net-zero CO2 emissions and reusable resources, sustainability is an important concern for academia, government and industry. However, there is uncertainty around global political and economic development, and society is facing unconventional emergencies such as the COVID-19 pandemic, which has affected the sustainable development of energy systems, power systems, economic systems, financial systems and service systems. Identifying, measuring and mitigating risks in the sustainable development of these systems, making scientific decisions related to sustainable development and making our socioeconomic or enterprise systems more resilient are important aspects of sustainable development and its management.

This Special Issue, “Risk Analysis and Decision Making for Sustainable Development”, aims to identify, measure, evaluate and mitigate (transfer) sustainable development risks; analyse scientific decisions; and help to improve energy, power, economy, finance or service system resilience. Authors are invited to submit original research and review articles to this Special Issue. Potential topics include, but are not limited to:

  • Risk analysis of sustainable development;
  • Risk measurement of sustainable development;
  • Risk assessment of sustainable development;
  • Risk decision making in energy sustainable systems;
  • Risk decision making in power sustainable systems;
  • Risk decision making in economy (finance) sustainable systems;
  • Sustainability decisions for service systems.

We look forward to receiving your contributions.

Dr. Chuanmin Mi
Dr. Wang Luo
Dr. Jian Liu
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • risk analysis
  • risk management
  • decision making
  • energy system
  • power system
  • economy system
  • finance system
  • service system
  • sustainable development

Published Papers (6 papers)

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Research

23 pages, 311 KiB  
Article
The Effect of ESG Performance on Bank Liquidity Risk
by Jiaze Liu and Jifei Xie
Sustainability 2024, 16(12), 4927; https://doi.org/10.3390/su16124927 - 8 Jun 2024
Viewed by 1048
Abstract
In recent years, investors have increasingly focused on the environmental, social, and governance (ESG) performance of businesses, driven by the rising importance of social and environmental challenges. This trend highlights the critical role of ESG factors in the financial sector. This study leverages [...] Read more.
In recent years, investors have increasingly focused on the environmental, social, and governance (ESG) performance of businesses, driven by the rising importance of social and environmental challenges. This trend highlights the critical role of ESG factors in the financial sector. This study leverages stakeholder theory, risk management theory, and ESG investment theory, utilising financial data and ESG scores from Chinese listed banks to comprehensively analyse ESG elements and examine their impact on the liquidity risk of commercial banks. The results show that: (1) Enhanced ESG performance can mitigate liquidity risk in commercial banks by reducing the proportion of non-performing loans and improving overall financial performance. (2) By standardising and implementing sustainable business practices, ESG elements can improve commercial banks’ liquidity management levels and lessen the incidence and effects of liquidity risk. As a result, it is critical to lower banks’ liquidity risk and support the long-term growth of commercial banks from five angles: information disclosure, differentiated reform, digital transformation, education and training, and international cooperation. Full article
(This article belongs to the Special Issue Risk Analysis and Decision Making for Sustainable Development)
21 pages, 3371 KiB  
Article
Forecasting Sustainable Development Indicators in Romania: A Study in the European Context
by Alexandra-Nicoleta Ciucu (Durnoi), Corina Ioanăș, Marioara Iordan and Camelia Delcea
Sustainability 2024, 16(11), 4534; https://doi.org/10.3390/su16114534 - 27 May 2024
Viewed by 626
Abstract
Sustainable development is a very important and highly debated concept worldwide, with almost all states around the globe recognizing the importance of supporting a balancing of economic, social and ecological plans to create a more prosperous and equitable world. The purpose of the [...] Read more.
Sustainable development is a very important and highly debated concept worldwide, with almost all states around the globe recognizing the importance of supporting a balancing of economic, social and ecological plans to create a more prosperous and equitable world. The purpose of the current study is to identify the current context of the progress achieved by the EU member states regarding the 17 sustainable development objectives. Following the implemented research, it was found that Romania is one of the countries with the lowest performance, so an attempt was made to make a short-term forecast in the case of this country in order to determine its future course. In this sense, the Holt–Winters trend methods were used, which are based on historical data to predict future values. According to the analysis carried out, the predicted values are mainly encouraging, but it is necessary for the competent authorities to become more involved because, in many aspects, Romania is at the bottom of the European Union (EU) ranking regarding the analyzed indicators. Full article
(This article belongs to the Special Issue Risk Analysis and Decision Making for Sustainable Development)
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21 pages, 319 KiB  
Article
Management of Strategic Risks for the Sustainability of SMEs in the Manufacturing Sector in Antioquia
by Andrea Jiménez, Yennifer Arrieta, Maria Antonia Nuñez and Eduart Villanueva
Sustainability 2024, 16(5), 2094; https://doi.org/10.3390/su16052094 - 2 Mar 2024
Viewed by 1955
Abstract
Strategic risk management impacts organizations’ competitive advantage; it is an opportunity for growth, anticipation, and sustainability. Small and medium-sized enterprises (SMEs) are significantly exposed to these risks and are a fundamental part of the current business fabric. This research aims to analyze the [...] Read more.
Strategic risk management impacts organizations’ competitive advantage; it is an opportunity for growth, anticipation, and sustainability. Small and medium-sized enterprises (SMEs) are significantly exposed to these risks and are a fundamental part of the current business fabric. This research aims to analyze the management of strategic risks for the sustainability of SMEs in the manufacturing sector in Antioquia. A qualitative methodology was used for the development, and ten semi-structured interviews were conducted with managers of the selected SMEs. The results show that strategic risk management contributes to the sustainability of SMEs across economic, social, and environmental pillars. The strategic risks most frequently mentioned as priorities for sustainability include long-term risks associated with strategy formulation and definition, as well as the value proposition. Additionally, the risk of human talent management, which is present in all analyzed organizations, was highlighted. Based on the research, interested organizations can be recommended to implement processes and practices associated with strategic risk management for sustainability. The research presents a significant novelty by specifically addressing the management of strategic risks for the sustainability of SMEs in the manufacturing sector. Unlike previous research, our study focuses on the specific risk management practices of SMEs in this geographical context, adding an important regional and sectoral dimension to the field of study. Full article
(This article belongs to the Special Issue Risk Analysis and Decision Making for Sustainable Development)
25 pages, 1432 KiB  
Article
Smart Building Thermal Management: A Data-Driven Approach Based on Dynamic and Consensus Clustering
by Hua Chen, Shuang Dai and Fanlin Meng
Sustainability 2023, 15(21), 15489; https://doi.org/10.3390/su152115489 - 31 Oct 2023
Viewed by 1086
Abstract
A customized and cost-effective building thermal control system is critical for accommodating thermal performance differences within the building, as well as satisfying the individual thermal comfort needs of occupants. Moreover, incorporating a building indoor thermal simulation procedure into the thermal control system can [...] Read more.
A customized and cost-effective building thermal control system is critical for accommodating thermal performance differences within the building, as well as satisfying the individual thermal comfort needs of occupants. Moreover, incorporating a building indoor thermal simulation procedure into the thermal control system can reduce the necessity of installing various expensive sensors (e.g., wearable sensors for personal thermal comfort management) in individual offices, as well as the requirement of extensive computing facilities without rendering the control performance, resulting into more sustainable building operations. An important step in achieving the above-mentioned goal is understanding how different offices/rooms behave differently given the same outdoor weather conditions. This study proposes a smart building indoor thermal profiling system to identify underlying physical factors that affect thermal performance in different seasons and to track dynamic cluster trajectories of considered offices to suggest indoor thermal optimization strategies. A consensus-based clustering approach is adopted to robustly cluster offices into different groups based on their hourly indoor temperature profiles for different seasons. Experimental results showed that our proposed approach could effectively discover more indoor thermal patterns in the buildings and is able to identify distinct dynamic cluster trajectories across four seasons (i.e., eight distinct dynamic trajectories in our case study). The data-driven analysis conducted in this study also indicated promising applications of the proposed smart building indoor thermal profiling system in effectively guiding the design of customized thermal control strategies for buildings. It also suggested that the proposed approach could be applied to a wide range of other applications, such as customized building energy management, energy pricing, as well as the economic benefit analysis of building retrofits and design. Full article
(This article belongs to the Special Issue Risk Analysis and Decision Making for Sustainable Development)
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18 pages, 3072 KiB  
Article
Envisioning Romania’s Path to Sustainable Development: A Prognostic Approach
by Alexandra-Nicoleta Ciucu-Durnoi, Margareta Stela Florescu and Camelia Delcea
Sustainability 2023, 15(17), 12671; https://doi.org/10.3390/su151712671 - 22 Aug 2023
Cited by 4 | Viewed by 1123
Abstract
The objectives of sustainable development aim to find a balance between economic, social, and ecological plans through which to reduce the use of the planet’s resources without somehow affecting human well-being. As we have already entered the second half of the time allotted [...] Read more.
The objectives of sustainable development aim to find a balance between economic, social, and ecological plans through which to reduce the use of the planet’s resources without somehow affecting human well-being. As we have already entered the second half of the time allotted to achieve these goals, it is necessary to note what progress has been made and to have a future analysis of what may happen to see what can be done to bring this plan to an end. Hence, the aim of this paper is to assess the extent to which Romania is projected to attain its sustainable development goals. In order to be able to forecast the route that some of the sustainable development objectives are heading towards (among which there are elements related to agriculture, energy poverty, pollution, innovation, youth education, etc.), values were forecast for a period of three years using the ARIMA method, having as historical data the period 2015–2021. According to the analysis carried out, for some objectives, the situation seems to be flourishing, but this is not the case for all the analyzed indicators. Thus, it should be taken into account that, at the European level, Romania occupies, in many cases, low positions in terms of the progress made and that it is possible that some of the objectives will not be met. Full article
(This article belongs to the Special Issue Risk Analysis and Decision Making for Sustainable Development)
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19 pages, 2837 KiB  
Article
Emergency Decision Making for Electric Power Personal Accidents Based on Ontology and Case-Based Reasoning
by Xiaolong Hao, Cen Cao, Sheng Yu, Xiaohu Sun, Min Feng, Wang Luo, Zhiqiang Xu and Hui Xiao
Sustainability 2023, 15(14), 11404; https://doi.org/10.3390/su151411404 - 22 Jul 2023
Cited by 1 | Viewed by 1269
Abstract
Improvements in the emergency response efficiency and management level of power construction sites are conducive to reducing the construction safety risk of power infrastructure projects and then achieving the sustainability of construction site safety. Therefore, this paper proposes an emergency decision-making method for [...] Read more.
Improvements in the emergency response efficiency and management level of power construction sites are conducive to reducing the construction safety risk of power infrastructure projects and then achieving the sustainability of construction site safety. Therefore, this paper proposes an emergency decision-making method for electric power personal accidents, which applies ontology and case-based reasoning to electric power emergency decision making. Firstly, ontology technology is used to structurally represent power accident case knowledge and clarify concepts and their relationships. Then, a power accident knowledge ontology hierarchy is designed, and a powerful personal accident case library is established. Secondly, by calculating cases’ conceptual similarity, attribute similarity, and structural similarity, a global power accident case similarity calculation method is proposed, and case matching is performed based on the calculation results to achieve case knowledge retrieval and reuse. Finally, the results of the example-based study show that the method effectively achieves the accurate retrieval of electric power accident cases, improves the efficiency of the emergency decision response to electric power construction site accidents, and then provides support for emergency decision making for electric power construction site accidents. Full article
(This article belongs to the Special Issue Risk Analysis and Decision Making for Sustainable Development)
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