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Renewable energy on the high seas – science-informed and indigenous knowledge-based recommendations for regulatory and governance challenges

The high seas are those marine areas under no State's jurisdiction. So far, all marine renewable energy (RE) activity is being conducted under State's jurisdiction. However, recent advances in technology are raising the prospect of carrying out RE activity on the high seas. Currently, only seabed mining activities in the Area have been regulated. The Area is the seabed and ocean floor beyond the limits of State's jurisdiction. From the legal viewpoint, the main gap is a lack of an international regulatory framework, informed by participatory mechanisms and supported by scientific evidence, for RE activities on the high seas, especially regarding their environmental and social impacts. 
The primary project objective (O) is to provide the scientific community and policymakers with science-informed and indigenous knowledge-based recommendations in support of the development of  RE regulation on the high seas. 
Two specific Os are set to complement the primary O, namely:
O1 To advance the use of systematic consultation processes that facilitates research at the crossroads of marine sciences and law. 
O2 To advance critical knowledge and understanding of environmental pressing issues comparable to the regulation of RE on the high seas, such as deep-sea mining in the Area.
A multistep innovative methodology will be adopted, by integrating marine scientific knowledge, consultative processes, and advanced critical research in the subject matter. A case study (interdisciplinary and participatory) involving marine scientists, indigenous and coastal communities and policy makers will be conducted onboard the Research Vessel KronPrins Haakon at the beginning of the project. The case study outcomes will be analysed through critical legal analysis to build a knowledge base for policy recommendations. 
The project will advance the PI’s career in an international research environment, allowing her to generate independent, high-quality, and reproducible results.




Optimization of Free Space Optical Communication Link based Drones for Search and Rescue Operations in the Arctic Region

The Arctic region is witnessing more frequent shipping accidents than ever which require accurate search and rescue operations. The existing communication systems use drones with radio frequency (RF) technology, which has limited bandwidth and cannot offer 4G/5G connectivity due to harsh weather constraints. It further limits the capacity of drones and affects the resolution of images and videos. The current research proposes to design free space optical communication (FSOC) link-based drones that can enhance connectivity between multiple drones and rescue ships as well as the capacity of drones to produce high resolution images and videos. The proposed FSOC-based drones can provide highspeed connectivity than the existing RF technology. The research will collect atmospheric turbulences data from the Arctic region and use it for designing the FSOC link. Furthermore, to enhance the capacity of FSOC-based drones, the research will design advanced multiplexing schemes (Mode Division Multiplexing and Orthogonal Code Division Multiple Access) and to ensure link stability, omnidirectional receiver will be designed. The research will further evaluate the performance of proposed FSOC link under the impact of various atmospheric turbulences. The expected outcomes of this research will lead to the optimisation of FSOC-based drones in expanding search areas and improving communication systems for SAR operations in the Arctic region.

Evaluation of thermohydraulic characteristic of printed circuit heat exchangers in pseudocritical region for supercritical CO2 cycle

Currently, 28.2% of the total EU-28 greenhouse gas emissions come from the power sector, a large contributor to greenhouse gas emissions. Consequently, the emphasis of the research in power generation has swung towards assessing highly efficient and greener power cycles. In this reference, the novel supercritical carbon dioxide Brayton cycle (sCO2-BC) is an ideal choice that outstrips other formally well-known power cycles (Brayton & Rankine cycles). In sCO2-BC, the role of the pre-cooler is critical. It serves as a sink to the power cycle and regulates the conditions at the compressor's inlet. The compressor's inlet temperature is intended to be maintained close to the critical temperature of carbon dioxide (CO2) to achieve greater cycle efficiencies. However, exceptionally higher values of the specific heat capacity of CO2 near its critical point (up to 40 times higher than water) require exceedingly high water flow rates on the cold side to achieve the desired exit temperatures of CO2. Consequently, the pre-cooler's pumping power requirements become high enough to deteriorate the cycle's performance. This problem can only be mitigated by exploring new channel geometries with enhanced thermohydraulic characteristics. Therefore, the proposed study plan to characterize the complex thermohydraulic characteristics in the pseudocritical region of CO2 using a multifaceted technique that includes, experimental, numerical, and machine learning techniques. The proposed work will provide a step forward to the success of sCO2-BC technologies that, in turn, will facilitate its integration with the green energy resources (generation-IV nuclear reactors and solar concentrated plants), helping to meet the EU's 2030 climate and energy framework goals of achieving at least 32% share for renewable energy.

Enhanced X(cross)-disciplinary Community-driven Imaging Technologies for Earth and Environmental material research

The EXCITE² Network is revolutionizing Earth and environmental material science research by consolidating a critical mass of 18 research facilities in 12 European and associated partner countries into a unified infrastructure and providing transnational access to advanced imaging technologies. This enables scientists to decipher complex processes within Earth materials at scales from nanometres to hundreds of centimetres, gaining unparalleled insight into the chemical and physical processes that govern, among others, environmental toxicity and its impact on human health, critical metal extraction for renewable energies, and the utilisation of Earth materials as long-term storage for climate-altering gases. The consortium fosters knowledge-sharing and talent attraction, bolstering the problem-solving capacity of the European Research Area. Moreover, EXCITE² is driving interdisciplinary collaboration and cross-fertilisation across academic institutions, scientific disciplines, and industry, propelling Europe towards a sustainable future. The initiative offers dedicated training programmes to a new generation of researchers within the European open science landscape, paired with access to world-class imaging facilities and expertise for problem-solving research and innovation. EXCITE² is introducing innovative service developments, such as artificial intelligence and leading-edge imaging experiments, to increase the user's problem-solving capacity. In addition, the consortium is implementing customised project valorisation strategies to maximize the impact of research outcomes in academia, society, and the economy. Citizen science projects allow the public to participate directly within the EXCITE² Network, contributing to solving EU challenges. As such, EXCITE² is paving the way towards a sustainable future, driving scientific excellence, and creating positive societal impact.

Advance Marine Research Infrastructures Together

The European Ocean Observing System (EOOS) is the foundation of European ocean knowledge. The core Marine Research Infrastructures (MRIs) focused on ocean observing (EMSO, EURO-ARGO and ICOS ERICs; EuroFleets+, EuroGoShip, GROOM RI, JERICO RI and MINKE as INFRA projects) are the main providers of in situ ocean data for the EOOS and Copernicus, and the primary managers of instrumental capacity supporting fundamental research.
These MRIs are aware that the lack of effective cross coordination prevents them from fully supporting frontier research, while the lack of integration makes it difficult to reach a critical mass for EOOS and results in significant cost duplication. Accordingly, AMRIT gathers these MRIs together with OceanOPS/WMO international coordination experience with the objective to:
- ensure seamless operation of marine observation platforms ;
- ensure the full nominal use of sensors and accelerate their evolution ;
- exploit the complementarity of the various observation platforms ;
- ensure the overall coherence of the ocean data value chain.
To achieve these objectives, AMRIT will design and implement an EOOS Technical Support Center (EOOS TSC) for
- a fully integrated information service across the data value chain from early planning stages to final delivery to users;
- a cross-platform fully standardised data acquisition methodology for Essential Ocean Variables;
- a collaborative federal structure to operate these services, relying on the ERIs and their members.
The EOOS TSC will be the cornerstone in establishing and maintaining the EOOS, upon which European ocean observing can be strengthened in the coming decades. AMRIT will provide a catalyst for the development and consolidation of MRIs throughout Europe, providing a benchmark for operational coordination and collaboration. AMRIT will advance EOOS in line with its 2023-2027 Strategy and beyond, and the European Commission's ambitions for sharing responsibility in ocean observing across Europe.

Research Infrastructure Services for Renewable Energy

The European Green Deal aims to transform the EU into a modern, resource-efficient and competitive economy with zero net greenhouse gas emissions by 2050. To achieve more efficient, competitive and cost-effective energy systems and devices, RISEnergy fosters a European ecosystem of industry, research organizations and funding agencies aimed at developing novel energy technologies and concepts. RISEnergy brings together a consortium of 69 beneficiaries from 23 countries: ERIC institutions, technology institutes, universities and industrial partners, to jointly improve the economic performance of technologies. Members of the European Energy Research Alliance are establishing the core European ecosystem. The main objectives of RISEnergy are: 1.) enable research and innovation to increase energy efficiency and reduce the cost of energy technologies to foster wider use of renewables into energy systems through proactive innovation management having single entry point with tailor-made access roads for academics, industry, and SMEs, and advising RI providers, all acces Users, and policy makers on LCA, ICT development and networking issues; 2.) provide efficient transnational access (TNA) to facilities to support renewable energy technologies and systems: Provide more than 2,500 days of access to major European and international world-leading analytical facilities; 3.) reach out to all stakeholders performing research along the value chain, from materials and technology development to applications in the eight most relevant fields of PV, CSP/STE , hydrogen, biofuels, offshore wind, ocean energy, integrated grids, and energy storage, research infrastructure providers and policy makers; 4.) provide comprehensive services of unprecedented quality: new cross-RI services, a single entry point, tailor-made access roads for academia industry, and SMEs with a particular focus on scientists from research fields in which the use of research infrastructures is not yet established.


Cooperation and AgReements enhancing Global interOperability for Aerosol, Cloud and Trace gas research infrastructures

The goal of CARGO-ACT is to deliver a clear roadmap for sustainable global cooperation between key
ground-based aerosol, cloud and trace gas research infrastructures, each having invested in infrastructure and services to support their observing networks with a long-term perspective, with a view to consolidating into a sustainable global research infrastructure in the future. There is a strong desire for global integration from the research community, including weather, climate, and air quality monitoring and modelling, 
and in particular from space agencies, since global networks of ground-based observations are an essential component complementing Earth Observation from space, providing calibration and validation of the remote sensing information collected by current and future satellite missions. The integration of the current ground-based networks, which may have different interests and priorities, requires cooperation and agreements at the global level, including engagement with relevant stakeholders. Their service provision is not limited to data services, but includes access to the measurement facilities, reference instruments, reference standards and laboratories, all of which are topics to be assessed in CARGO-ACT.  

The specific objectives of CARGO-ACT are to, develop sustainable partnerships and decision making processes with relevant partners, demonstrate the benefits of converging interoperability and standards to stakeholders and the global research community, establish the mechanisms for providing  international access to distributed research infrastructures and develop a roadmap for upscaling towards an integrated global research infrastructure for aerosol, cloud and trace gases.


Improve offshore infrastructure resilience against geohazards towards a changing climate

POSEIDON brings together an interdisciplinary and intersectoral team to deliver a professionally trained next-generation network of Doctoral Candidates to develop a step change in our capacity to identify, map, assess and predict offshore geohazards and in turn produce ground-breaking methods to prevent, mitigate and boost the resilience of current offshore infrastructure under a changing climate. The consortium is formed by experts across EU countries with universities, research institutions, industry partners and a government body to cover a full training programme on scientific and transferable skills. 

The programme will undertake critical research across scales (from micro to macro) for seeking the inner links and differences, with an eventual aim to ascertain the pathways and grow our capacity for the enhancement of the existing and the robust development of new offshore infrastructure in the frame of safety and resiliency. In addition to the informed design and implementation of the novel physical/numerical modelling and lab studies, our approach is unique in the solid integration and utilisation of state-of-the-art data science technologies (e.g., data mining, machine learning, etc.) to their full potential. Only through this systematic approach, we can achieve the objectives of understanding the impact of offshore geohazards on our offshore critical infrastructures (OCIs) and developing novel models, tools and designs for future OCIs, such as, wind turbines, pipelines and cables. 

The Doctoral Candidates will enjoy a highly integrated, interdisciplinary and intersector training environment, enriched through secondments with the network of non-academics. POSEIDON enables critical learning across all training aspects to ensure that comprehensive, robust and implementable solutions are obtained and validated to face the OCIs climate-resilient building.

Material Science Innovation for Accelerated, Sustainable and Safe Implementation of Carbon Capture and Storage

MISSION-CCS presents a timely and unique doctoral network designed to deliver the next generation of highly trained researchers and entrepreneurs in the field of material science, specifically focused towards accelerating implementation of carbon capture and storage CCS technologies worldwide and ensuring the sustainable and safe operation of existing and future CCS systems.

The training network combines unique experimental system design and modelling approaches, state-of-the-art analytical technologies and techno-economic analysis to deliver a new generation of researchers and entrepreneurs. The programme of research training centres of delivering Doctoral Candidate Researchers (DCRs) with world-leading technical expertise in material science and engineering relevant to the entire CCS process. MISSION-CCS ensures that the subject-specific technical knowledge of each DCRs is under-pinned by inter-sectorial knowledge whilst also promoting wider innovation skills and relevant training on the techno-economics of CCS, developing experts with breadth of knowledge.

A central aim of the network is to forge a strong cohort culture, by ensuring that peer-to-peer learning and mutual support become the norm, in order to enhance experience. Research-led training activities are strengthened through a dynamic and interactive education based programme delivered by an internationally renowned consortium of academics and industrialists with complementary skills. As part of the training programme, subsequent to an introduction to CCS systems and the specific material science challenges, DCRs will gain knowledge of system design and optimisation, state-of-the-art analytical methods, theoretical modelling, techno-economics, and understand the challenges of exploiting their research. They will also acquire proficiency in project management, communication, entrepreneurship, and innovation; all essential attributes for any modern technical professional.

As carbon taxes are set to extend in depth and scope it will be critical to follow them from policymaking to implementation. Just Carbon Transitions (JUSTCARBON) spotlights the role of legal expertise in translating carbon taxation ideals into action. Tax systems and national legal jurisdictions present significant challenges for policy makers intent on tackling both environmental concerns and redistributive goals through taxation. There is an urgent need to investigate the role of legal tax professional structure, authority, and expertise to draw out how competition and cooperation among experts shapes the effectiveness of taxes in bringing about just transitions. These experts are crucial to study because the justness of (carbon) tax policies extend beyond ‘the letter of the law’, to the enforcement and control systems that make them effective - systems designed and populated by tax professionals. 

The study draws on an interdisciplinary research agenda shared between scholars of public administration and the sociology of professions and expertise. Through a comparative study of tax professionals and policy processes in three European countries – Denmark, Norway, and France – the study will give new insights into the implementation and operation of these systems, and how they are part of changing national legal orders on tax. Overall, the project will tell us where tax professionals are positioned in national policy advisory systems, what ‘legal expertise’ means in practice to these experts and which norms guide their work. The project is designed to expand this interdisciplinary agenda by bridging sociological and political science communities. During the project I will train with leading scholars in international comparative research on expertise and public administration, from sociological and political science perspectives. My goals are to develop a more complete research profile and my potential to be a future research leader in these fields.

Just Carbon Transitions

Midlene fra SMARTRANS-Næringslivets transp. og ITS fordelt på år

Midlene fra SMARTRANS-Næringslivets transp. og ITS fordelt på fylker

Midlene fra SMARTRANS-Næringslivets transp. og ITS fordelt på fagområde

Forskningssjef

Transportsektoren er en av de store bidragsyterne når det gjelder utslipp av avgasser til luft og står for ca 1/3 av CO2-utslippene i Norge og ca halvparten av CO- og over 60 % av NOx-utslippene. Næringstransportene alene (gods) står for ca 11 % av CO2-ut slippene og ca 37% av NOx-utslippene.

I dette prosjektforslaget ønsker vi å utvikle et beslutningsstøttesystem for å fremme utviklingen av mer miljøvennlige transportformer for næringstransportene.  Beslutningsstøttesystemet består av to viktige elemente r:
1) Rammeverk for miljøregnskap for næringstransport til bruk på ulike nivåer.
2) Beregningssystem for miljøkonsekvenser av næringstransport, samt transport-kostnader og transporttider.

Miljøregnskap skal lages både for både bedriftens interne og ekste rne behov mot kunder og samfunn. Et slikt miljøregnskap vil øke interessen hos alle parter for å fremme miljøvennlige transportformer. Det vil stimulere til en miljøtenkning for hele transportsektoren; sette miljømål, ?benchmarking? av ?best practice?, fi nne virkemidler for å nå miljømål og kommunisere miljøutviklingen både internt i bedriften og eksternt mot samfunnet.

Beregningssystemet for miljøkonsekvenser skal kunne gjennomføre de nødvendige beregninger som skal inn i miljøregnskapet. Data om transp ortnettet for de detaljerte beregningene vil hentes fra databankene til Jernbaneverket og Statens Vegvesen. Beregningssystemet skal også gjenspeile den teknologiske utviklingen. 

Det er et sideordnet mål i prosjektet at næringslivet og offentlige etater utvikler felles kompetanse og felles verktøy for miljøberegninger.

Grønn godstransport

Tilsynelatende lever vi i tider med uovertrufne nivåer av ulikhet. For å forstå alvoret i problemet, foreslår vi en forskningsagenda som fokuserer på å undersøke de teoretiske fundamentene for formuesakkumulering gjennom både private midler som arbeid eller private selskaper og offentlige finansmarkeder.

For å oppnå dette målet utvikler vi modeller som tar sikte på å utforske konsekvensene av heterogenitet og ikke-omsettelig formue for eiendomspriser og total ulikhet. Vår tilnærming innebærer å konstruere modeller innenfor et rammeverk med kontinuerlig overlappende generasjoner som inkorporerer heterogene agenter. Innenfor denne rammen tilpasser vi variasjoner i inntektskarakteristikker, preferanser, tidspreferanser, tro og lærings-effektivitet blant agenter samtidig.

We live in times with unprecedented levels of inequality. To understand the severity of the problem we propose a research agenda concerned with theoretical underpinnings of wealth accumulation through private nontradable means, which we refer to as private Lucas trees, and the stock market and bonds.
To this end, we propose to build two models to study the consequences of heterogeneity and nontradable capital or trees on asset prices and inequality. More specifically, we use a theoretical tool called fictitious completion, which practically means that an incomplete market is transferred into an equivalent complete market through adjusting the state prices or discount factor. The reason for this is because models with complete financial markets are inherently much simpler to solve. We do this in a continuous time overlapping generations model with heterogeneous agents, where for some specifications we can obtain closed form solutions for all quantities but some of the equilibrium diffusion coefficients of the price processes.
Within this framework, we can simultaneously allow for heterogeneity in the characteristics of the private trees (income), preferences, time preferences, beliefs, and learning (efficiency). We then study asset pricing implications and effects on consumption and wealth dynamics if agents cannot borrow against their private trees.
Next, we study how investment into the private trees propagates heterogeneity into inequality in consumption and wealth. We consider that unlocking the growth potential of a private tree requires an upfront investment. Due to heterogeneity/inequality some will not be able to make the investment. A (wealth) transfer can effectively reduce the heterogeneity but this will come at the cost of deterring some would-be investors that without the taxation to finance the transfer system actually would investment. We ask what are the asset pricing implications and effects on consumption and wealth dynamics in this setting.

Heterogeneity and inequality

ESG (Environmental, Social and Governance) investering eller "bærekraftig investering" er en investeringsstrategi som i større grad fokuserer på den langsiktige innvirkningen på miljøet og samfunnet, og i mindre grad på avkastning.
ESG-konferansen på BI vil tiltrekke foredragsholdere fra biologi, klimaforskning, miljøinnovasjon, styring, politikk og regulering, finans og selskaper som leder an i ESG-teknologi.
Arrangementet vil samle innovatører, investorer, beslutningstakere og forskere ved Handelshøyskolen BI for å starte en debatt og innlede et tettere samarbeid mellom beslutningstakere og interessenter.

Environmental, Social, and Governance (ESG) Investing Conference:

Our goal is to bring together leaders from fields as diverse as biology, climate research, environmental innovation, governance, policy and regulation, and finance to present ideas and engage in fruitful discussions under the umbrella of Environmental, Social, and Governance (ESG) Investing.
At the event, we aim at bringing together innovators, investors, policy makers and regulators, and researchers to start a debate and initiate an ongoing interaction between decisions makers and stakeholders.
The event shall serve as platform for smaller scale related follow-up events and gatherings.

Environmental, social and governance (ESG) investing

Forskningsgruppen på finansiell beslutningstaking, husholdingsfinans, markedsers mikrostruktur og verdisetting av finansielle instrumenter ved Senter for Verdisettingsforskning (CAPR) ved Handelshøyskolen BI arrangerer årlige workshoper og en årlig konferanse sammen med Swedish House of Finance. 

Senteret knytter til seger vertskap for eksterne gjesteforskere og medforfattere for å styrke eksterne relasjoner og samarbeid, og for å etablere nye internasjonale relasjoner. 

Senteret holder et åpentorganiserer doktorgradsskurs på finansiell beslutningstaking som er åpen for eksterne deltakere i Norge.

The Centre for Asset Pricing Research (CAPR) focuses on research on asset pricing and investor behavior. We focus on strengthen already existing international cooperations and on establishing new international cooperations, especially for junior researchers.

In the SAMEVAL research evaluation (Evaluation of the Social Sciences in Norway): Our group Asset Pricing and Investor Behavior received the highest score of 5.

We host top researchers and coauthors especially for junior researchers. We organize and annual workshops and an annual conference jointly with the Swedish House of Finance in Stockholm, focusing on the research themes of the group.

We will organize a new PhD course focusing on the research themes of the group.

Asset pricing and investor behavior

Using semi-parametric and parametric proportional hazards models and an accelerated life model, we study whether and for how long initial capital structure and start-up ownership structure matter for survival and whether and how significantly a firm's abi lity to adjust its capital structure and its ownership structure affect survival. Further, we propose to study the impact of incumbents' financial health, especially cash holdings, and ownership structure on survival rates of new firms.

Capital and ownership structure and the survival of new firms

The level, slope, curvature and volatility of yields and the predictability of nominal bond returns and the high persistence of changes in their yields are important features of government bonds (U.S. Treasuries). While there are many sophisticated reduce d form models that are successful in explaining these features of the data the economic mechanisms behind these empirical facts remain underexplored.

We will study the equilibrium term structure of nominal interest rates with heterogeneous external habit  forming preferences and inflation uncertainty. Investors may or may not know the dynamics of aggregate nominal consumption growth but have different beliefs about expected inflation and hence the dynamics of inflation. We show that this difference and ha bit formation may lead to disagreement whether the economy is in a recession or an expansion. The equilibrium nominal stochastic discount factor is determined in closed form and the effects of aggregate risk aversion, difference in beliefs, habit, and inf lation on the nominal short rate and the nominal market price of risk are explored. Moreover, we provide simple formulas for nominal bond prices, real bond prices, and the inflation risk premium that can be numerically evaluated using Monte Carlo simulati on techniques.

We show that heterogeneity in preferences among investors with external non-addictive habit forming preferences produce a good fit of the level and the curvature of the nominal term structure of interest rates. In addition, beliefs about e xpected inflation help to reproduce the predictability of nominal bond returns.

Disagreement about the Business Cycle and the Term Structure
of Interest Rates

Owners of small firms have, in general, tied most of their wealth to one firm. Hence, in terms of motives for risk management, owners and managers could have more in common in small and medium sized firms than in large public companies. Still, there has b een little research on the use of risk management by closely held firms. Using a panel data set with property insurance contracts (and other lines of insurance) from AON Grieg, Norway, with more than 3000 firm-year observations from 2003 until 2006, this project aims at demonstrating that unlike in large firms with diversified owners, managers and the undiversified owners of small firms and family firms play a much more active role in shaping corporate risk management. The first novelty of our approach is  to rely on small firm data. This is important, since these firms are in general closely held and also highly sensitive to shocks that can be avoided by buying insurance. Consequently, one would expect to find a stronger foundation for any hedging motive with small firm data than elsewhere. The second novelty is the use of detailed ownership data. This will enable us to group investors into individual (personal) large-block owners, managers, and institutional owners. We expect that this will improve the s tatistical tests and higher inclination to manage risk than what has been shown in the past using large, listed companies. This is because in public firms with diffuse ownership only managers (or a few very large-block owners) may be motivated to hedge be cause of risk aversion. Not surprisingly, therefore, the evidence on managerial motives for risk management is rather weak. The third novelty is to analyze risk management in small firms jointly with the capital structure decision (interest rate risk mana gement). We expect that a closely-held firm variable, along with percentage ownerships of the CEO and the largest owner, will help establish the importance of ownership structure for risk management.

SMARTRANS-Næringslivets transp. og ITS

Grønn godstransport

Awarded: NOK 3.6 mill.

Summary

Funding scheme:

SMARTRANS-Næringslivets transp. og ITS

Funding Sources

Thematic Areas and Topics