Value chain finance(VCF)represents the aligning and structuring of finance within a value chain or as a result of its existence.Given the growing need to explore innovative approaches to rural and agricultural finance...Value chain finance(VCF)represents the aligning and structuring of finance within a value chain or as a result of its existence.Given the growing need to explore innovative approaches to rural and agricultural finance in Nigeria,such financing solutions have become imperative.However,few studies on the ex-ante impact of financing innovations exist.Therefore,to ascertain the benefits derivable from VCF,this paper analyzes the potential impact of VCF on plantain production in Nigeria.The expected benefits are estimated based on the economic surplus model,using the Dynamic Research Evaluation for Management(DREAM)software.Results from a 25-year simulation period at a 15%discount rate and an innovation cost of USD 1,300,000,show that,in the least optimistic scenario,the economy is expected to have an overall net gain(economic surplus)of USD 3256,800,with a net present value of USD 3406,880,benefit-cost ratio of 3.83,and an internal rate of return or break-even discount rate of 36.80%.These results indicate the positive impact of VCF,measured in terms of net present value and net benefit,expressed as producer and consumer surplus.This suggests VCF is a viable and beneficial financing innovation for food production in Nigeria.Finally,it is recommended that a value chain financing agency be established to make finance available to farmers to boost food production in Nigeria.展开更多
CO_(2) utilization becomes a promising solution for reducing anthropogenic greenhouse gas (GHG) emissions. Biomass-based CO_(2) utilization (BCU) even has the potential to generate negative emissions, but the correspo...CO_(2) utilization becomes a promising solution for reducing anthropogenic greenhouse gas (GHG) emissions. Biomass-based CO_(2) utilization (BCU) even has the potential to generate negative emissions, but the corresponding quantitative evaluation is limited. Herein, the biomass-based CO_(2) utilization with an iron cycle (BCU-Fe) system, which converts CO_(2) into formate by Fe under hydrothermal conditions and recovers Fe with biomass-derived glycerin, was investigated. The GHG reduction potential under various process designs was quantified by a multidisciplinary method, including experiments, simulations, and an ex-ante life-cycle assessment. The results reveal that the BCU-Fe system could bring considerable GHG emission reduction. Significantly, the lowest value is −34.03 kg CO_(2)-eq/kg absorbed CO_(2) (−2.44 kg CO_(2)-eq/kg circulated Fe) with the optimal yield of formate (66%) and Fe (80%). The proposed ex-ante evaluation approach not only reveals the benefits of mitigating climate change by applying the BCU-Fe system, but also serves as a generic tool to guide the industrialization of emerging carbon-neutral technologies.展开更多
基金This study received partial funding from Forum for Agricultural Research in Africa in the area of data collection.
文摘Value chain finance(VCF)represents the aligning and structuring of finance within a value chain or as a result of its existence.Given the growing need to explore innovative approaches to rural and agricultural finance in Nigeria,such financing solutions have become imperative.However,few studies on the ex-ante impact of financing innovations exist.Therefore,to ascertain the benefits derivable from VCF,this paper analyzes the potential impact of VCF on plantain production in Nigeria.The expected benefits are estimated based on the economic surplus model,using the Dynamic Research Evaluation for Management(DREAM)software.Results from a 25-year simulation period at a 15%discount rate and an innovation cost of USD 1,300,000,show that,in the least optimistic scenario,the economy is expected to have an overall net gain(economic surplus)of USD 3256,800,with a net present value of USD 3406,880,benefit-cost ratio of 3.83,and an internal rate of return or break-even discount rate of 36.80%.These results indicate the positive impact of VCF,measured in terms of net present value and net benefit,expressed as producer and consumer surplus.This suggests VCF is a viable and beneficial financing innovation for food production in Nigeria.Finally,it is recommended that a value chain financing agency be established to make finance available to farmers to boost food production in Nigeria.
基金support of the National Natural Science Foundation of China(No.21978170)the Natural Science Foundation of Shanghai(No.19ZR1424800)the Center of Hydrogen Science,Shanghai Jiao Tong University,China.
文摘CO_(2) utilization becomes a promising solution for reducing anthropogenic greenhouse gas (GHG) emissions. Biomass-based CO_(2) utilization (BCU) even has the potential to generate negative emissions, but the corresponding quantitative evaluation is limited. Herein, the biomass-based CO_(2) utilization with an iron cycle (BCU-Fe) system, which converts CO_(2) into formate by Fe under hydrothermal conditions and recovers Fe with biomass-derived glycerin, was investigated. The GHG reduction potential under various process designs was quantified by a multidisciplinary method, including experiments, simulations, and an ex-ante life-cycle assessment. The results reveal that the BCU-Fe system could bring considerable GHG emission reduction. Significantly, the lowest value is −34.03 kg CO_(2)-eq/kg absorbed CO_(2) (−2.44 kg CO_(2)-eq/kg circulated Fe) with the optimal yield of formate (66%) and Fe (80%). The proposed ex-ante evaluation approach not only reveals the benefits of mitigating climate change by applying the BCU-Fe system, but also serves as a generic tool to guide the industrialization of emerging carbon-neutral technologies.
