Gold Mining's Contribution to the UN Sustainable Development Goals
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Department of Economics Working Paper Series Determinants of the Physical Demand for Gold: Evidence from Panel Data by Martha St
Department of Economics Working Paper Series Determinants of the physical demand for gold: Evidence from panel data by Martha Starr*, Ky Tran No. 2007-09 July 2007 http://www.american.edu/academic.depts/cas/econ/workingpapers/workpap.htm Copyright © 2007 by Martha Starr*, Ky Tran. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. Determinants of the physical demand for gold: Evidence from panel data Abstract Although the role of gold in the world economy has declined since the gold standard was abandoned, it remains important as a central bank reserve, a hedge against risks, a barometer of geopolitical uncertainty, and an input for jewelry. While portfolio demand for gold has been well studied, determinants of physical demand are less understood. Certain emerging-market countries like China and India import substantial amounts of gold, with several factors that may contribute: low financial development, need for precautionary savings, and/or strong cultural valuation of gold itself. This paper uses panel data on gold imports of 21 countries to examine determinants of physical demand. We find that determinants of physical demand differ from those of portfolio demand, and that they differ between the developed and developing worlds. Please address correspondence to: Prof. Martha A. Starr, Dept. of Economics, American University, 4400 Mass. Ave. NW, Washington, DC 20016, USA. Email: [email protected]. Key words: Physical gold demand, investment, savings, precautionary wealth JEL: O160, E210, G150 2 2 “Determinants of the physical demand for gold: Evidence from panel data” 1. -
Gold As a Store of Value
WORLD GOLD COUNCIL GOLD AS A STORE OF VALUE By Stephen Harmston Research Study No. 22 GOLD AS A STORE OF VALUE Research Study No. 22 November 1998 WORLD GOLD COUNCIL CONTENTS EXECUTIVE SUMMARY ..............................................................................3 THE AUTHOR ..............................................................................................4 INTRODUCTION..........................................................................................5 1 FIVE COUNTRIES, ONE TALE ..............................................................9 1.1 UNITED STATES: 1796 – 1997 ..................................................10 1.2 BRITAIN: 1596 – 1997 ................................................................14 1.3 FRANCE: 1820 – 1997 ................................................................18 1.4 GERMANY: 1873 – 1997 ............................................................21 1.5 JAPAN: 1880 – 1997....................................................................24 2 THE RECENT GOLD PRICE IN RELATION TO HISTORIC LEVELS....28 2.1 THE AVERAGE PURCHASING POWER OF GOLD OVER TIME ................................................................................28 2.2 DEMAND AND SUPPLY FUNDAMENTALS ............................31 3 TOTAL RETURNS ON ASSETS ..........................................................35 3.1 CUMULATIVE WEALTH INDICES: BONDS, STOCKS AND GOLD IN THE US 1896-1996 ....................................................35 3.2 COMPARISONS WITH BRITAIN ..............................................38 -
For Sustainable Innovation Economies Communities
INNOVATION FOR SUSTAINABLE ECONOMIES COMMUNITIES PROGRAM WELCOME TABLE OF CONTENTS TO AASHE 2014 IN PORTLAND, OREGON! 2 Host Committee Members/ AASHE Members Portland is a great host city, with a Climate Action Plan and remember the buzz that lead to the creation of in place to reduce 2009 levels of carbon emissions by AASHE. All of us owe a huge thank you to those original 4 Welcome from our Host Campus sponsors 80% by 2050. You will see Portland’s commitments organizers, particularly Tony Cortese, Steve Kolmes , 7 AASHE Host Campus Sponsors to sustainability at every turn which is one of the main and Judy Walton. A little over a year later AASHE was founded. reasons this year’s conference theme is Innovation for 9 2015 Sponsors Sustainable Economies and Communities. Whether you’ve attended every AASHE conference or this 10 Welcome to Portland, Oregon This year’s conference has an outstanding program is your first we welcome your feedback. Please let the of speakers and workshops, an exhibit hall filled with AASHE staff and board know how next year’s meeting can 11 Portland Facts & Trivia business partners and organizations with representatives be even better. In addition, the AASHE Listening Project interested in talking with you, and other participants initiated last year will continue at this conference. The 12 Sustainability at Oregon Convention Center ready to network. You will discover that there is a goal is to gauge how AASHE is meeting member needs 14 Food & Beverage at AASHE 2014 unique mix of faculty, administrators, sustainability and how we can improve. -
SC2019 Action and Resources Guide
SuStainable Cleveland 2019 Action and Resources Guide BuildinG An eConomiC enGine to empoweR A green City on A Blue lAke table of ContentS i SC2019 Action and ReSourceS Guide Table of Contents Table of Contents i Contributors iii Executive Summary vii SECTION 1 : AliGnment & ACtion Guide 1.0 context 2 1.1 Introduction 3 1.2 Sustainable Economy Context 10 1.3 Economic Model 17 1.4 Cluster Overview 21 2.0 strateGiC framewoRk 30 2.1 Strategic Framework 31 2.2 Personal & Social Environment 35 2.3 Natural Environment 43 2.4 Built Environment 51 2.5 Business Environment 58 3.0 action plAn : CelebratinG pRogress 66 3.1 Action Plan : Celebrating Progress 67 Energy Efficiency 70 Local Foods 75 Renewable Resources 77 Waste 81 Water 84 Green Space 87 Transportation 90 Vital Neighborhoods 94 table of ContentS ii SC2019 Action and ReSourceS Guide Table of Contents SECTION 2: BACkground And Resource Guide 96 4.0 biG piCtuRe : eConomy 97 4.1 Clustering 98 4.2 Local Economy 123 5.3 Climate Prosperity 133 5.0 implementAtion 143 5.1 Implementation Overview 144 5.2 Stewardship Structures 145 5.3 Initiative Design & Evaluation 149 5.4 Measuring Progress 160 5.5 Communication: Branding 167 APPENDICes Appendix A: Bibliography 182 Appendix B: Metrics Starter-Kit 188 Appendix C: Sustainability Assets 202 Appendix D: Outreach 206 Appendix E: Brand Background 210 Appendix F: Example “Postcard” Initiatives 214 Appendix G: City of Cleveland Initiatives 224 ContRibutors iii SC2019 Action and ReSourceS Guide sC2019 AdvisoRy CounCil Harriet Applegate BAiJu Shah A F -
World Gold Council – Our Mission
Gold in Islamic Finance – Opportunities for Standardisation November 2018 World Gold Council – Our mission • The gold industry’s market development organisation • The recognised global authority on gold and its uses • Active in stimulating and sustaining demand in key markets and sectors • Focused on: o lowering barriers to gold ownership o raising industry standards and enhancing market infrastructure to increase market efficiency, transparency and trust o increasing the understanding of gold as a mainstream investment asset • Offices in London (head office), New York, Beijing, Shanghai, Singapore, Tokyo and Mumbai World Gold Council | Gold in Islamic Finance - Standardisation | November 2018 2 1 AAOIFI Shari’ah Standard on Gold World Gold Council | Gold in Islamic Finance - Standardisation | November 2018 3 AAOIFI Shari’ah Standard on Gold The AAOIFI Shari’ah Standard clarifies the Shari’ah treatment of gold trading and investing. It was launched at the World Islamic Banking Conference in 2016. A dedicated website (www.shariahgold.com) hosts the Standard and related materials. World Gold Council | Gold in Islamic Finance - Standardisation | November 2018 4 2 Industry reaction “AAOIFI’s Shari’ah expertise and the World Gold Council’s industry know-how have ensured that the Standard becomes the basis not only for the inclusion of a historically and economically important asset class, but for the stability of Islamic Financial Institutions around the world.” Sheikh Yusuf DeLorenzo International Shari’ah Scholar and advisor to Dow Jones -
Investing to Achieve Industry, Innovation, and Infrastructure
Cornerstone UN SDG Series: Industry, Innovation and Infrastructure Investing to Align with SDG 9: Industry, Innovation and Infrastructure Investment in infrastructure and innovation are crucial drivers of economic growth and development, and are key to finding lasting solutions to both economic and environmental challenges. Promoting sustainable industries and investing in scientific research and innovation are all important ways to facilitate sustainable development. More than 4 billion people still do not have access to the Internet, and 90% are from the developing world. Bridging this digital divide is crucial to ensuring equal access to information and knowledge, as well as fostering innovation and entrepreneurship.1 SDG 9 is further refined by targets that can be more easily translated into actions. These targets highlight the interconnected nature of the goals. For example, strategies to support inclusive industrialization and innovation also promote progress toward SDG 5 (Gender Equality) and SDG 8 (Decent Work & Economic Growth). Below are a series of synergies What are the UN SDGs? that can come from providing access to products, services and systems that work to drive The UN Sustainable Development Goals Industry, Innovation and Infrastructure. (SDGs) are a collection of 17 global goals set by the UN General Assembly in 2015. Fair Treatment and Equal Opportunity The SDGs are a shared blueprint for peace and prosperity for people and the planet, Recent research points to a strong connection between openness to different cultures now and into the future. The SDGs are and ideas, and the ability of a place to adapt to economic changes and grow.2,3 Currently, part of Resolution 70/1 of the UNGA titled however, not all are equally able to innovate. -
Gold Demand Trends Full Year 2013
Gold Demand Trends Full year 2013 February 2014 www.gold.org 2013 proved to be the year of the Contents consumer, with gold jewellery demand Executive summary 02 Global gold market – 2013 review 08 close to pre-crisis levels and investment Jewellery 08 in small bars and coins hitting a record Investment 10 Central banks 13 high. The result was annual gold demand Technology 14 of 3,756.1 tonnes, valued at US$170bn. Supply 14 However, outweighing the impressive Gold demand statistics 16 Appendix 24 consumer demand were the effects of Notes and definitions 29 ETF outflows and lower central bank Contributors buying, resulting in 2013 demand 15% Louise Street below the strong volumes recorded [email protected] Krishan Gopaul in 2012. Read more… [email protected] Alistair Hewitt [email protected] Gold demand by category (tonnes) and the gold price (US$/oz) Marcus Grubb Tonnes US$/oz 5,000 1,800 Managing Director, Investment Strategy 1,600 [email protected] 4,000 1,400 3,000 1,200 2,000 1,000 1,000 800 600 0 400 -1,000 200 -2,000 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Jewellery Total bar and coin demand ETFs and similar products Technology Central bank net purchases London PM fix (US$/oz, rhs) Source: LBMA, Thomson Reuters GFMS, World Gold Council Executive summary The gold market became polarised in 2013 as 21% growth in demand from consumers and value-seeking investors contrasted with large-scale outflows from ETFs. The net result was a 15% decline in full-year gold demand in a year where jewellery, bar and coin demand reached an all-time high. -
An Overview of the Forest Service's New Wood Utilization Center ______Secretary Glickman Expressed Theodore L
An Overview of the Forest Service's New Wood Utilization Center ___________________________________________________________________________ Secretary Glickman expressed Theodore L. Laufenberg his support for efforts to improve Charles G. Shaw III Southeast Alaska's economy in a press USDA--Forest Service release dated January 17, 1999 from the Pacific Northwest Research Station United States Department of Agriculture. _____________________________________ He said, "Federal agency cooperation will unify and enhance the opportunities for economic assistance to workers, families, businesses, and communities affected by the changing timber industry in southeastern Alaska." He went on to discuss the establishment by the Forest Service of the Wood Utilization Center in Sitka. In the Fiscal Year (FY) 1999 budget appropriation for Interior and related agencies, the USDA Forest Service (FS) was directed to establish and commence operating a harvesting and wood utilization laboratory in Sitka, Alaska with no less than five, full-time employees. Even though the enabling legislation was in an appropriations bill, no funds were provided to support the program. The Forest Service is implementing the mandate in FY 1999 with FY 1998 carry-over funds, but does not have funding for the laboratory specifically identified in the FY 2000 Budget being considered by Congress. Ted Laufenberg was detailed to Sitka for one year as acting team leader for the Wood Utilization Center (WUC). Over the past 19 years as a research engineer, project leader, and, most recently, program manager at the Forest Products Laboratory (FPL) in Madison, Wisconsin, Ted has worked with a wide array of wood products; collaborated with a host of academic, government, and commercial interests; and advanced numerous science-policy initiatives on topics such as free trade, recycling, and environmentally-preferable purchasing. -
The Application of Biotechnology to Industrial Sustainability – a Primer
THE APPLICATION OF BIOTECHNOLOGY TO INDUSTRIAL SUSTAINABILITY – A PRIMER ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT 2 FOREWORD This short paper is based on the OECD publication, “The Application of Biotechnology to Industrial Sustainability”. The Task Force on Biotechnology for Sustainable Industrial Development of the OECD’s Working Party on Biotechnology contributed to this primer which was prepared by the Chairman of the Task Force, Dr. John Jaworski, Industry Canada, Canada. Special thanks are due to Dr. Mike Griffiths (OECD Consultant) as well as to those who contributed to the case studies set out in the publication on which the primer is based. 3 TABLE OF CONTENTS FOREWORD.................................................................................................................................................. 3 TABLE OF CONTENTS ............................................................................................................................... 4 EXECUTIVE SUMMARY ............................................................................................................................ 5 Introduction................................................................................................................................................. 6 What is Industrial Sustainability? ............................................................................................................... 6 Moving Toward More Sustainable Industries............................................................................................ -
Proceeding of International Conference on Biodiversity for Sustainable Industries
Proceeding of International Conference on Biodiversity for Sustainable Industries VOL.1/JUNE/2017 ISBN:978-602-61830-0-2 presented by: P R O C E E D I N G ISBN: 978-602-61830-0-2 ICBSI June 2017 ISOLATION AND IDENTIFICATION OF YEAST INVOLVED IN COCOA FERMENTATION TO BE USED AS A STARTER TO IMPROVE COCOA BEAN QUALITY Yusya’ Abubakar*, Heru P. Widayat, Martunis, Murna Muzaifa, Rizka Try Gustina Department of Agricultural Product Technology, Faculty of Agriculture, Syiah Kuala University, Jl. Tgk. H. Krueng Kalee 3, Banda Aceh, Aceh. Indonesia *Email: [email protected] ABSTRACT - Indonesia has been known as the third largest cocoa (Theobroma cacao L.) producer in the world. However, most of Indonesian cocoa is considered as low in quality due to unfermented bean. Bean fermentation has been introduced to smallholder farmers in Aceh, but the quality of bean produced is not consistent. Among factors determining a succesfull fermentation is involvment of major microorganisms, including yeast which is grown naturally around cocoa beans in the first 24 hours of fermentation. Therefore, this study is aimed to isolate and identify the type of yeasts involved in the cocoa fermentation process. Then, the yeast is being used as starter in cocoa fermentation to improve the bean quality. Improving cocoa quality is very important to improve farmer competitiveness, which in turn will enhance cocoa production sustainability. Samples of microorganisms taken from the best cocoa mass fermentation were isolated to obtain pure yeast culture. The culture was identified conventionally by observing (testing) its morphological and biochemical properties. The results showed that the six isolates predominantly grown fall into four different yeasts genus. -
Strategic Industry Clusters 2010 Report
Coordinating Workforce and Economic Development around Strategic Industry Clusters A Progress Report on Substitute House Bill 1323 December 15, 2010 Eleni Papadakis, Executive Director, Workforce Board Egils Milbergs, Executive Director, Washington Economic Development Commission Charles Earl, Executive Director, State Board for Community and Technical Colleges Rogers Weed, Director, Department of Commerce Paul Trause, Commissioner, Employment Security Department ACKNOWLEDGEMENTS Workforce Training & Education Coordinating Board Bryan Wilson, Deputy Director Joyce Ahlering, Policy Analyst/Legislative Liaison Washington Economic Development Commission Egils Milbergs, Executive Director Noreen Hoban, Assistant to the Executive Director State Board for Community and Technical Colleges Tina Bloomer, Policy Associate, Workforce Development Pat Ward, Program Administrator, Workforce Education Washington State Department of Commerce Daniel Malarkey, Deputy Director Spencer Cohen, Research Manager SHB 1323 Progress Report 1 TABLE OF CONTENTS I. Executive Summary.………………………………………………………......…4 II. Identifying industry clusters.……………………………………………………5 A. What are Washington’s current clusters? i. Industry clusters: A state and local analysis B. Washington Economic Development Commission focuses on the clusters of tomorrow i. Washington’s 12 Innovation Clusters III. State agency services and funding for industry clusters…………..............12 A. Workforce Training and Education Coordinating Board...………………12 i. Industry Skill Panel Grants ii. High Skills, High Wages Strategic Fund Grants iii. Mid-Level High Demand Programs B. Higher Education…………………………………………………………....16 i. Baccalaureate-Level High Demand Programs ii. Strategically Targeted Academic Research Teams/Innovation Research Teams C. Department of Commerce…………………………………………….........20 i. Innovation Partnership Zones ii. Community Economic Revitalization Board iii. Public Works Trust Fund iv. Associate Development Organizations v. Aerospace Council vi. Clean Energy Leadership Council vii. Global Health D. -
The Evolution in Central Bank Attitudes Toward Gold About the World Gold Council
THE EVOLUTION IN CENTRAL BANK AttITUDES TOWARD GOLD About The World Gold Council The World Gold Council’s mission is to stimulate and sustain the demand for gold and to create enduring value for its stakeholders. The organisation represents the world’s leading gold mining companies, who produce more than 60% of the world’s annual gold production in a responsible manner and whose Chairmen and CEOs form the Board of the World Gold Council (WGC). As the gold industry’s key market development body, WGC works with multiple partners to create structural shifts in demand and to promote the use of gold in all its forms; as an investment by opening new market channels and making gold’s wealth preservation qualities better understood; in jewellery through the development of the premium market and the protection of the mass market; in industry through the development of the electronics market and the support of emerging technologies and in government affairs through engagement in macro-economic policy issues, lowering regulatory barriers to gold ownership and the promotion of gold as a reserve asset. The WGC is a commercially-driven organisation and is focussed on creating a new prominence for gold. It has its headquarters in London and operations in the key gold demand centres of India, China, the Middle East and United States. The WGC is the leading source of independent research and knowledge on the international gold market and on gold’s role in meeting the social and economic demands of society. 1 The evolution in central bank attitudes toward