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This paper gives an overview of the development of Fair Trade in six European countries: Austria, France, Germany, the Netherlands, Switzerland and the United Kingdom. After the description of the food retail industry and its market structures in these countries, the main European Fair Trade organizations are analyzed regarding their role within the Fair Trade system. The following part deals with the development of Fair Trade sales in general and with respect to the products coffee, tea, bananas, fruit juice and sugar. An overview of the main activities of national Fair Trade organizations, e.g. public relation activities, completes the analysis. This study shows the enormous upswing of Fair Trade during the last decade and the reasons for this development. Nevertheless, it comes to the conclusion that Fair Trade is still far away from being an essential part of the food retail industry in Europe.
The increasing public awareness of business related impacts on environmental and social well-being, be it positive or negative, are nowadays key drivers of corporate success. Internal and external business environments exert pressure and force transparency as well as responsible action in terms of resolving environmental and social impacts. In line with this, Porter and Kramer regard business behaviour that addresses societal needs and challenges, as the “new way to achieve economic success”.
However, whereas some companies “remain trapped in an out-dated approach to value creation” and restrict their CSR commitment to the compliance with governmental regulation, others proactively address stakeholder needs. By addressing these needs, companies can benefit from grasping the opportunity of enhanced cost efficiency and lowered risk or gaining competitive advantages through establishing unique value propositions, in a way that meets stakeholder demands. Apart from that, CSR performance can be seen as powerful tool to successfully influence stakeholder perceptions in terms of reputation, and thus an exceptional source of value creation. In addition to this, organisations can profit from win-win-win situations related to syncretic value creation by means of partnering with stakeholders. This, however, implies expanding the focus of cost- and risk-reduction towards increasing competitiveness through creating mutual benefits for environment, society and the economy alike.
Although a growing number of companies have recognised the advantages coming along with Corporate Social Responsibility engagement, the accompanying efforts have not been sufficiently mature yet. Due to the fact that many organizations apply a rather narrow and out-dated approach to value creation, they fail to achieve a balance between environmental, social and economic objectives. This, in turn, implies a restriction in their ability to exploit the full value creation potential that is related to CSR engagement. But even organisations applying a broader perspective of value creation, struggle to internalise the opportunities. This is mainly due the challenge of balancing and integrating economic and non-economic criteria. At the same time, organizations are facing the challenge of getting support from senior management and staff. Thus, in order to profit from adopting a ‘broad perspective’, firms must build a deep understanding of the benefits resulting from mutual value creation. However, the main challenge remains the systematic and strategy related integration of Corporate Social Responsibility strategies into core business processes. In respect to this, organizations have to take into account that “social and environment performance are almost certainly unique to each organization”. Thus, value creation in terms of CSR has to be understood as a highly complex set of cause-an-effect relationships among mediating variables and situational contingencies, which is too specific to rely on poorly structured and generic approaches.
In brief, organisations seem to struggle establishing an understanding that does not consider environmental, social and economic benefits as mutually exclusive. Notwithstanding, that such an understanding is established the complexity of factors influencing Corporate Social Responsibility impedes to balance between economic and non-economic criteria. Furthermore, organisations have difficulties to strategically integrate, manage and measure environmental and social performance drivers as well as outcome measures.
Folgende Aspekte lassen sich im Rahmen dieser Forschung festhalten:
• Im ORSA Bericht 2022 dient eine Anlehnung an die Klimawandelszenarien des „Network for Greening the Financial System (NGFS)“ (ein Zusammenschluss der Aufsichtsbehörden und Zentralbanken) als erste Orientierung.
• In Anlehnung an das NGFS sind zwei langfristige (mind. 30 Jahre) Temperaturanstiegsszenarien (< 2°C und ≥ 2°C) zur weiteren Analyse auszuwählen.
• Hierfür bietet sich ein Szenario mit hohem Transitionsrisiko (z.B. „Delayed Transition“) und ein Szenario mit hohem physischen Risiko (z.B. „Current Policies“) an.
• Im ORSA 2022 dienen einfach gehaltene, quantitative Analysen als Basis, um daraus qualitative Aussagen abzuleiten, z.B.:
o Neubewertung per heute (Sensitivitätsanalyse)
o Stresstest mit instantanen Schocks („Zeitreise“)
o Projektion (statisch oder mit Managementregeln)
• Schließlich sind bei der Ableitung von Ergebnissen die Besonderheiten der verschiedenen Bereiche/Sparten zu berücksichtigen:
o die Kapitalanlagen könnten beispielsweise langfristig durch Transitionsrisiken geprägt sein (z.B. steigende Energiepreise)
o die Schaden/Unfallversicherung ist geprägt durch das reformierte Baurecht (klimabewusstes Bauen)
o die Personenversicherung ist geprägt durch lange Vertragslaufzeiten.
Das diesjährige Forschungsthema befasst sich mit dem Allokationsmechanismus im Rückversicherungsmarkt und den potentiellen Nachteilen, die daraus entstehen können. Somit lässt sich das Vorhaben in die Disziplin „Marktdesign“ einordnen, welches auf Mikroökonomie und Spieltheorie aufbaut. Im weiteren Verlauf wird zunächst der theoretische Rahmen abgesteckt und in den Rückversicherungs-Kontext gesetzt. Im zweiten Teil wird es einen Ein- und Ausblick in aktuelle Forschungsfragen gegeben.
The effects of global warming, the depletion of non-renewable resources, the loss of biodiversity and a growing population, has affected nature and humanity over the past decades. Unless we change course in how we produce and consume, severe consequences for life on this Planet in the future are likely to follow. Based on that background, this paper looks at one area of consumption, namely food, and analyses a particular market within this area which causes high environmental pressures, i.e. the meat market. After having laid the theoretical foundation of sustainable consumption, an overview of the problems arising in the food sector in general and the meat market in particular is given. An in-depth analysis of the consumption of meat in one country, namely Germany, follows. Germany has been chosen as an exemplary for a country showing an excessive consumption of meat. This contributes to the problems linked to the meat market. The past development of the consumption of meat is evaluated and forms the basis for predicting a possible development of meat consumption in Germany until 2025. Based on the findings, conclusions are drawn about a possible trend towards sustainable consumption in the German meat market.
Ghana’s timber industries have traditionally focussed on certifying international demand (exports) to the detriment of domestic wood consumption. The legal wood supply to the domestic market has become insufficient to satisfy the growing needs of the local population. This research aims at gaining greater insight into the sources of wood supply to Ghana’s domestic wood markets focusing on the contribution of legal wood by the mainstream timber companies.
The study used random and purposive sampling techniques for selecting the respondents in the domestic wood market, wood producers as well as consumers. Additionally, the views of the respondents were sought through well semi-structured questionnaires. On the other hand, views from key informants, mostly experts, and regulators in Ghana’s wood industry were solicited through interviews.
The result indicates that the formal timber processors supply 73% of their processed lumber to the export market and 27% to the domestic market. The destination of the 27% is both the domestic market and other lumber demanded sectors especially large scale construction and furniture companies. The carving industry on other hand obtains wood directly from the farmers and not necessary from the domestic wood market. At the domestic timber market, dealers receive lumber supply from both formal (16. 7%) and informal (83.3%) sources.
The domestic wood sector provides livelihood support to both wood dealers, consumers as well as artisans. About 70% of respondents (wood dealers) used in the survey have no other source of livelihood for existence except wood business.
Owing to the immense contribution of the domestic wood market to the country’s economy and developmental agenda, a calls for policy review especially 20% supply of formal processed lumber to the domestic market is timely. Additionally, looking at the various interventions to curtail illegal chain saw and the continued market demand, the study believes more regulated measures will better help the nation to grasped huge revenue lost as a result of illegalities to embark on vigorous afforestation programs to sustain the domestic wood market.
The reinsurance market is currently faced with great challenges and profound changes. Even after the large NatCat claims in Q3-2017, the substantial hardening of the reinsurance market for which reinsurers had hoped failed to materialise in the year-end renewal. Interest is now focussed on the renewal of retrocession agreements as at 1st April 2018. The Cologne Research Centre for Reinsurance analyses the latest developments in the reinsurance market and, where appropriate, monitors these through research projects.
In the process, the Cologne Research Centre for Reinsurance links its research activities with practices in the reinsurance sector. Hereby, and facilitated through organisation of the annual Cologne Reinsurance Symposium and the Annual Meeting of the Sponsoring Group Reinsurance, a bi-directional transfer of knowledge between theory and practice is pursued. The content of these two scientific events, as well as the completed research projects, are incorporated into scholarship and instruction at the Institute of Insurance Studies, rounding out practice-oriented training in the field of reinsurance. Currently, there are seven researchers and two coordinating employees on the staff of the Cologne Research Centre for Reinsurance. Thereby, all material and personnel costs are fully financed by third-party funds provided by the Sponsoring Group Reinsurance. We want to thank the Sponsoring Group Reinsurance, the University leadership and administration, and the employees of the Cologne Research Centre for Reinsurance for all their support for the research projects and events of the past year.
The reinsurance market continues to face major challenges – at this point we would like to outline just two of these. While renewal of the reinsurance contracts as at 1st January 2019 was largely ‘riskadjusted flat’, renewal of the retrocession contracts was decidedly late. As at the date when this Annual Report 2018 went to press (2nd January 2019), the final trend is still not yet discernible. However, there are signs of a substantial hardening in prices and conditions in the retrocession area. Reinsurers, which are depend on the resource of retrocession capacity, would then be placed in an even more difficult position of increasing the price of retrocession, yet these additional costs cannot be passed on to the assignors under their active reinsurance contracts. Not least the German Federal Financial Supervisory Authority [BaFin] is also certain to set its sights on this aspect in its analysis of the prevailing reinsurance price level, which has been announced for 2019. Of particular interest with regard to a potential determination of insufficient market conditions would also be the resulting reaction by BaFin (and the basis on which this would occur). A decisive factor for a possible strengthening of the retrocession market would be a changed attitude on the part of alternative capital, which in recent years already provided 50-70% of the retrocession capacity – and rising – via ILS funds and other mechanisms. Unlike traditional reinsurers, ‘innocent investors’ such as pension funds were increasingly nervous as a result of the high number of claims again in 2018 – particularly the California wildfires in Q4 2018 – as well as the drop in the fund share price of numerous ILS funds prior to the renewal at 1st January 2019.
A further substantial burden on the business climate lies in the utter ambiguity with regard to the modalities of Brexit on 29th March 2019. A no-deal Brexit would seem to be a real – and perhaps even a probable – alternative. This would create a large vacuum
in legal certainty by eliminating many EU-UK contracts and agreements. The Cologne Research Centre for Reinsurance analyses the latest developments in the reinsurance market and, where appropriate, monitors these through research projects. In the process, the Cologne Research Centre for Reinsurance links its research activities with practices in the reinsurance sector. Hereby, and facilitated through organisation
of the annual Cologne Reinsurance Symposium and the Annual Meeting of the Sponsoring Group Reinsurance [Förderkreis Rückversicherung], a bi-directional
transfer of knowledge between theory and practice is pursued. The content of these two scientific events, as well as the completed research projects, are incorporated into scholarship and instruction at the Institute of Insurance Studies, rounding out practice-oriented training in the field of reinsurance.
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Currently, there are nine researchers and two employees responsible for science management on the staff of the Cologne Research Centre for Reinsurance. Thereby, all
material and personnel costs are fully financed by third-party funds provided by the Sponsoring Group Reinsurance.
We want to thank the Sponsoring Group Reinsurance, the University leadership and administration, ivwKöln [the Institute of Insurance Cologne] and the employees of the
Cologne Research Centre for Reinsurance for all their support for the research projects and events of the past year.
The reinsurance market continues to face major challenges – at this point we would like to outline just one of these, by way of example. The renewal of reinsurance contracts effective 1st January 2020 seems to present an-other disappointment for the reinsurance sector. This development is surprising for a substantial hardening of prices and conditions, not only in the retrocession area but also in the primary (corporate) insurance market. As a rule, a price increase in the retrocession sector is initially followed by a price rise in the reinsurance industry, which then ultimately also occurs in the primary (corporate) insurance market. Yet the trend we are currently witnessing seems to have skipped over the reinsurers. This confronts the reinsurance market with the question of whether – and, if so, when – the price adjustments will also take effect in the case of reinsurance contracts. The Cologne Research Centre for Reinsurance analyses the latest developments in the reinsurance market and, where appropriate, monitors these through research pro-jects. In the process, the Cologne Research Centre for Reinsurance links its research activities with practices in the reinsurance sector. Hereby, and facilitated through or-ganisation of the annual Cologne Reinsurance Symposium and the Annual Meeting of the Sponsoring Group Reinsurance [Förderkreis Rückversicherung], a bi-directional transfer of knowledge between theory and practice is pursued. The content of these two scientific events, as well as the completed research projects, are incorporated into scholarship and instruction at the Institute of Insurance Studies, rounding out practice-oriented training in the field of reinsurance. There are seven researchers, two employees responsible for research management and one administrative employee currently on the staff of the Cologne Research Cen-tre for Reinsurance. Thereby, all material and personnel costs are fully financed by third-party funds provided by the Sponsoring Group Reinsurance. Within the scope of its social and environmental responsibility, this year the Cologne Research Centre for Reinsurance dealt with the topics of climate protection, sustaina-bility and equality. Because these topics are at once global, national and individual missions, the Cologne Research Centre for Reinsurance developed ideas and took measures to actively practice climate protection, sustainability and equality. In this ef-fort, great importance was attached to maintaining the level of quality while at the same time pursuing the objectives the Research Centre had set for itself in the above-men-tioned areas. While it is still in its beginnings, our initiative in the field of climate protec-tion and sustainability is manifested particularly in the most sustainable management of resources and travel we can achieve.
We want to thank the Sponsoring Group Reinsurance, the University leadership and administration, ivwKöln [the Institute of Insurance Studies Cologne] and the employees of the Cologne Research Centre for Reinsurance for all their support for the research projects and events of the past year.
The reinsurance market continues to face major challenges – at this point we would like to outline just one of these, by way of example. The renewal of reinsurance contracts effective 1st January 2020 seems to present an-other disappointment for the reinsurance sector. This development is surprising for a substantial hardening of prices and conditions, not only in the retrocession area but also in the primary (corporate) insurance market. As a rule, a price increase in the retrocession sector is initially followed by a price rise in the reinsurance industry, which then ultimately also occurs in the primary (corporate) insurance market. Yet the trend we are currently witnessing seems to have skipped over the reinsurers. This confronts the reinsurance market with the question of whether – and, if so, when – the price adjustments will also take effect in the case of reinsurance contracts. The Cologne Research Centre for Reinsurance analyses the latest developments in the reinsurance market and, where appropriate, monitors these through research pro-jects. In the process, the Cologne Research Centre for Reinsurance links its research activities with practices in the reinsurance sector. Hereby, and facilitated through or-ganisation of the annual Cologne Reinsurance Symposium and the Annual Meeting of the Sponsoring Group Reinsurance [Förderkreis Rückversicherung], a bi-directional transfer of knowledge between theory and practice is pursued. The content of these two scientific events, as well as the completed research projects, are incorporated into scholarship and instruction at the Institute of Insurance Studies, rounding out practice-oriented training in the field of reinsurance. There are seven researchers, two employees responsible for research management and one administrative employee currently on the staff of the Cologne Research Cen-tre for Reinsurance. Thereby, all material and personnel costs are fully financed by third-party funds provided by the Sponsoring Group Reinsurance. Within the scope of its social and environmental responsibility, this year the Cologne Research Centre for Reinsurance dealt with the topics of climate protection, sustaina-bility and equality. Because these topics are at once global, national and individual missions, the Cologne Research Centre for Reinsurance developed ideas and took measures to actively practice climate protection, sustainability and equality. In this ef-fort, great importance was attached to maintaining the level of quality while at the same time pursuing the objectives the Research Centre had set for itself in the above-men-tioned areas. While it is still in its beginnings, our initiative in the field of climate protec-tion and sustainability is manifested particularly in the most sustainable management of resources and travel we can achieve.
We want to thank the Sponsoring Group Reinsurance, the University leadership and administration, ivwKöln [the Institute of Insurance Studies Cologne] and the employees of the Cologne Research Centre for Reinsurance for all their support for the research projects and events of the past year.