This study investigates the impact of corporate carbon performance on financing costs, focusing on S&P 500 companies from 2015 to 2022. Utilizing a fixed-effects regression model, the research reveals a complex U-shaped nonlinear relationship between carbon intensity (CI) and cost of debt (COD). The sample comprises 2896 firm-year observations, with CI measured by the ratio of Scope 1 and 2 greenhouse gas (GHG) emissions to annual sales. The findings indicate that companies with higher CI initially face increased COD due to heightened regulatory and operational risks. However, as CI falls below a certain threshold, further reductions in emissions can paradoxically lead to increased COD, likely due to the substantial investments required for advanced technologies. Additionally, a positive relationship between CI and cost of equity (COE) is observed, suggesting that shareholders demand higher returns from companies with greater environmental risks. These results underscore the importance of balancing short-term and long-term environmental strategies. The study highlights the need for corporate managers to communicate the long-term benefits of environmental efforts effectively to creditors and investors. Policymakers should consider these dynamics when designing regulations that incentivize lower carbon emissions.

By reviewing US state-level panel data on infrastructure spending and on per capita income inequality from 1950 to 2010, this paper sets out to test whether an empirical link exists between infrastructure and inequality. Panel regressions with fixed effects show that an increase in the growth rate of spending on highways and higher education in a given decade correlates negatively with Gini indices at the end of the decade, thus suggesting a causal effect from growth in infrastructure spending to a reduction in inequality through better access to education and opportunities for employment. More significantly, this relationship is more pronounced with inequality at the bottom 40 percent of the income distribution. In addition, infrastructure expenditures on highways are shown to be more effective at reducing inequality. By carrying out a counterfactual experiment, the results show that those US states with a significantly higher bottom Gini coefficient in 2010 had underinvested in infrastructure during the previous decade. From a policy-making perspective, new innovations in finance for infrastructure investments are developed, for the US, other industrially advanced countries and also for developing economies.

The effects of different storage temperatures (2, 4 and 8 ℃) and their corresponding optimal heat treatment conditions on the quality, physiological and biochemical indexes of Cucumber Fruits during storage were studied by using the quadratic regression orthogonal rotation combination design. The effects of different storage temperatures (2, 4 and 8 ℃) and their corresponding optimal heat treatment conditions on the chilling injury, hardness, weightlessness rate, polyphenol oxidase (PPO), catalase (CAT), peroxidase (POD), H₂O₂, super oxygen anion free radical (O^2-), ASA and GSH were determined. The results showed that heat treatment could inhibit chilling injury, while heat treatment combined with 4 ℃ low temperature storage could effectively inhibit the decline of fruit hardness and weight loss rate, delay the increase of peroxidase (POD) and polyphenol oxidase (PPO) activities, inhibit the increase of H₂O₂ and superoxide anion free radical O^2- and significantly inhibit the browning of cucumber, delay the decline of ascorbic acid and maintain the content of GSH, it was beneficial to adjust the balance of active oxygen system. The results showed that under the storage condition of 4 ℃, the hot water treatment condition of cucumber was 39.4 ℃ and 24.3 min, which could delay the senescence of cucumber fruit and better maintain the quality of cucumber fruit.

Natural forests and abandoned agricultural lands are increasingly replaced by monospecific forest plantations that have poor capacity to support biodiversity and ecosystem services. Natural forests harbour plants belonging to different mycorrhiza types that differ in their microbiome and carbon and nutrient cycling properties. Here we describe the MycoPhylo field experiment that encompasses 116 woody plant species from three mycorrhiza types and 237 plots, with plant diversity and mycorrhiza type diversity ranging from one to four and one to three per plot, respectively. The MycoPhylo experiment enables us to test hypotheses about the plant species, species diversity, mycorrhiza type, and mycorrhiza type diversity effects and their phylogenetic context on soil microbial diversity and functioning and soil processes. Alongside with other experiments in the TreeDivNet consortium, MycoPhylo will contribute to our understanding of the tree diversity effects on soil biodiversity and ecosystem functioning across biomes, especially from the mycorrhiza type and phylogenetic conservatism perspectives.

Objective: The influence of climate on forest stands cannot be ignored, but most of the previous forest stand growth models were constructed under the presumption of invariant climate and could not estimate the stand growth under climate change. The model was constructed to provide a theoretical basis for forest operators to take reasonable management measures for fir under the influence of climate. Methods: Based on the survey data of 638 cedar plantation plots in Hunan Province, the optimal base model was selected from four biologically significant alternative stand basal area models, and the significant climate factors without serious covariance were selected by multiple stepwise regression analysis. The optimal form of random effects was determined, and then a model with climatic effects was constructed for the cross-sectional growth of fir plantations. Results: Richards formula is the optimal form of the basic model of stand basal area growth. The coefficient of adjustment  was 0.8355; the average summer maximum temperature  and the water vapor loss  in Hargreaves climate affected the maximum and rate of fir stand stand growth respectively, and were negatively correlated with the stand growth. The adjusted coefficient of determination  of the fir stand area break model with climate effects was 0.8921, the root mean square error (RMSE) was 3.0792, and the mean relative error absolute value (MARE) was 9.9011; compared with the optimal base model,  improved by 6.77%, RMSE decreased by 19.04%, and MARE decreased by 15.95%. Conclusion: The construction of the stand cross-sectional area model with climate effects indicates that climate has a significant influence on stand growth, which supports the rationality of considering climate factors in the growth model, and it is important for the regional stand growth harvest and management of cedar while improving the accuracy and applicability of the model.

This study uses the opening of the new Mass Rapid Transit (MRT) in stages between 2010 and 2012 in Singapore as the exogenous event to empirically test the impact of the new Circle Line (CL) on housing wealth. Applying a "differences-in-differences" approach to the non-landed private housing transaction data covering the period from 2009 to 2013, we find that the average housing prices increase by 1.6% in the post-opening of the CL. We find significant capitalization of the new CL into housing prices, especially households living within a 400-meter radius (the treatment zone) from the closest MRT stations on the CL. The treatment effects that are measured by the "marginal willingness to pay" for houses located within the treatment zone is 13.2% relative to houses located outside the treatment zone. The new CL opening creates an estimated S$1.23 billion housing wealth effects for households living in close proximity to the CL MRT stations. However, we do not find significant "anticipative" effects on house prices in the six-month window prior to the opening of CL. The strongest treatment effect is found after the opening of the phase 1 of CL, and the treatment intensity declines in phases 2 and 3 of the CL opening.