ABSTRACTChina’s overseas investment flows (US$ 183 billion) and stock (US$ 4.7 trillion) reached a record peak in 2016, second only to those of the US. A major cause for concern lies in the environmental sustainability of China’s overseas investment portfolio, which is compounded by the lack of transparency of China’s main development finance arms. We intend in this paper to give an update on the magnitude of green finance in China’s overseas investment and development finance portfolio on the basis of the best available estimates, and to put these figures into a broader perspective of multilateral development banks’ commitments and practices to combat climate change. We derive practical policy recommendations that Chinese development banks could take to further align China’s overseas investment with the 2°C target of the Paris Agreement, with the first step being to revise the ‘host country standard’ principle, to ensure that Chinese development banks use the most stringent of the two environmental standards, abroad or at home.Key policy insights
Chinese development banks lend, give or invest between US$ 38 billion and US$ 45 billion every year to developing countries, without either elaborating on, or integrating, the provisions of the Paris Agreement into their investment strategy.
Regulations and safeguards are much more stringent for China’s domestic investment than for China’s overseas investment, and this stringency gap has been widening over recent years.
As a step towards aligning Chinese overseas investment with the Paris Agreement, Chinese development banks could revise the ‘host country standard principle’. They could instead choose the highest among the two – recipient country or Chinese domestic – in terms of environmental stringency, consequently harmonizing overseas environmental regulation and safeguards with those that apply domestically.
We present 23 cosmogenic surface exposure ages from 10 localities in southern Sweden. The new 10Be ages allow a direct correlation between the east and west coasts of southern Sweden, based on the same dating technique, and provide new information about the deglaciation of the Fennoscandian Ice Sheet in the circum‐Baltic area. In western Skåne, southernmost Sweden, a single cosmogenic surface exposure sample gave an age of 16.8±1.0 ka, whereas two samples from the central part of Skåne gave ages of 17.0±0.9 and 14.1±0.8 ka. Further northeast, in southern Småland, two localities gave ages ranging from 15.2±0.8 to 16.9±0.9 ka (n=5) indicating a somewhat earlier deglaciation of the area than has previously been suggested. Our third locality, in S Småland, gave ages ranging from 10.2±0.5 to 18.4±1.6 ka (n=3), which are probably not representative of the timing of deglaciation. In central Småland one locality was dated to 14.5±0.8 ka (n=3), whereas our northernmost locality, situated in northern Småland, was dated to 13.8±0.8 ka (n=3). Samples from the island of Gotland suggest deglaciation before 13 ka ago. We combined the new 10Be ages with previously published deglaciation ages to constrain the deglaciation chronology of southern Sweden. The combined deglaciation chronology suggests a rather steady deglaciation in southern Sweden starting at c. 17.9 cal. ka BP in NW Skåne and reaching northern Småland, ~200 km further north, c. 13.8 ka ago. Overall the new deglaciation ages agree reasonably well with existing deglaciation chronologies, but suggest a somewhat earlier deglaciation in Småland. 相似文献
Simulation of fracturing processes in porous rocks can be divided into two main branches: (i) modeling the rock as a continuum enhanced with special features to account for fractures or (ii) modeling the rock by a discrete (or discontinuous) approach that describes the material directly as a collection of separate blocks or particles, e.g., as in the discrete element method (DEM). In the modified discrete element (MDEM) method, the effective forces between virtual particles are modified so that they reproduce the discretization of a first-order finite element method (FEM) for linear elasticity. This provides an expression of the virtual forces in terms of general Hook’s macro-parameters. Previously, MDEM has been formulated through an analogy with linear elements for FEM. We show the connection between MDEM and the virtual element method (VEM), which is a generalization of FEM to polyhedral grids. Unlike standard FEM, which computes strain-states in a reference space, MDEM and VEM compute stress-states directly in real space. This connection leads us to a new derivation of the MDEM method. Moreover, it enables a direct coupling between (M)DEM and domains modeled by a grid made of polyhedral cells. Thus, this approach makes it possible to combine fine-scale (M)DEM behavior near the fracturing region with linear elasticity on complex reservoir grids in the far-field region without regridding. To demonstrate the simulation of hydraulic fracturing, the coupled (M)DEM-VEM method is implemented using the Matlab Reservoir Simulation Toolbox (MRST) and linked to an industry-standard reservoir simulator. Similar approaches have been presented previously using standard FEM, but due to the similarities in the approaches of VEM and MDEM, our work provides a more uniform approach and extends these previous works to general polyhedral grids for the non-fracturing domain. 相似文献
Reported ancient bottom current deposits in deep marine settings are scarce and most of them remain contentious. This study describes sedimentological, ichnological and petrographical characteristics of a drill core that covers ca 10 Myr of Upper Cretaceous stratigraphy at Hold with Hope, north-east Greenland. The core is divided into four facies associations, which are interpreted to reflect deposition from bottom currents, turbidity flows and hemipelagic settling in slope and/or near slope environments. The evidence for bottom current influence is three-fold. Firstly, pervasive indications of winnowing such as marine bioclast-rich lags and outsized clasts on ‘mud on mud’ contacts are suggestive of low-sediment concentration flows capable of transporting up to pebble-sized clasts. Common Mn–Fe–Mg rich carbonate matrix cements and various types of hiatal chemogenic lag deposits showing glauconite, apatite and carbonate clasts also point to condensation, prolonged exposure at the sediment–water interface and recurrent phases of sea-floor erosion. Secondly, such deposits can show indicators for tidal processes such as double mud-drapes, tangential bottom sets in dune-scale cross-bedding and cyclic rhythmites. Thirdly, inverse to normal grading at various scales is common in fully marine, commonly seafloor-derived sediments. Ichnological data indicate considerable taxonomic variability in the bottom current deposits, but recurrent fabrics are characteristically dominated by morphologically simple burrows such as Thalassinoides and Planolites, with secondary Phycosiphon, Nereites, Zoophycos and/or Chondrites. In general, opportunistic taxa are common whereas mature composite ichnofabrics are rare. The omission surfaces are locally burrowed with stiffground to firmground trace fossil suites. The results contribute to establishing sedimentological, ichnological and mineralogical criteria for recognition of bottom current deposits as well as to the understanding of the Late Cretaceous palaeoenvironmental evolution of the Arctic region. 相似文献
We deployed semipermeable membrane devices (SPMDs) on beaches for 28 days at 53 sites in Prince William Sound (PWS), Alaska, to evaluate the induction potential from suspected sources of cytochrome P450 1A (CYP1A)-inducing contaminants. Sites were selected to assess known point sources, or were chosen randomly to evaluate the region-wide sources. After deployment, SPMD extracts were analyzed chemically for persistent organic pollutants (POPs) and polycyclic aromatic hydrocarbons (PAH). These results were compared with hepatic CYP1A enzyme activity of juvenile rainbow trout injected with the same extracts prior to clean-up for the chemical analyses. Increased CYP1A activity was strongly associated with PAH concentrations in extracts, especially chrysene homologues but was not associated with POPs. The only apparent sources of chrysene homologues were lingering oil from Exxon Valdez, asphalt and bunker fuels released from storage tanks during the 1964 Alaska earthquake, creosote leaching from numerous pilings at one site, and PAH-contaminated sediments at Cordova Harbor. Our results indicate that PWS is remarkably free of pollution from PAH when nearby sources are absent as well as from pesticides and PCBs generally. 相似文献
An extensive carbonate system in the Gulf of Papua (GoP), developed in the late Oligocene–middle Miocene, was buried by huge influx of siliciclastics originated from Papua New Guinea. Major episodes of siliciclastic influx in the carbonate system are related to tectonic activity in the fold and thrust belt during the Oligocene Peninsular Orogeny, late Miocene Central Range Orogeny, and late Pliocene renewed uplift and exhumation of peninsular region. Siliciclastics did not influence the carbonate deposition during the late Oligocene–middle Miocene, since they were accumulated in the Aure Trough, proximal foreland basin protecting the carbonate system. The most significant burial of the carbonate system started during the late Miocene–early Pliocene in the result of the Central Range Orogeny. However, the largest influx was related to the renewed uplift of the Papuan Peninsula during the early late Pliocene. The shelf edge prograded ∼150 km and formed more than 80% of the modern shelf. This high siliciclastic influx was also enhanced by the “mid” Pliocene global warmth period and intensified East Asian monsoons at 3.6–2.9 Ma. Although many publications exist on carbonate–siliciclastic mixing in different depositional environments, this study helps understand the carbonate–siliciclastic interactions in space and time, especially at basinal scale, and during different intervals of the carbonate system burial by siliciclastic sediments. 相似文献
The permeability of a reservoir is particularly dependent upon the proportion of its fractures that penetrate or are arrested at interfaces such as contacts and discontinuities. Here we report on fracture penetration and fracture arrest in Lower Cretaceous peritidal deposits exposed in the Pizzicoli Quarry, Gargano Promontory, southern Italy. We measured more than 2000 fractures, in the field and using LIDAR data, of which 564 fractures from the field and 518 from LIDAR studies are the focus of this paper. Fracture arrest/deflection and penetration depend much on the effects of peritidal cycle interfaces such as paleosol horizons, laminated carbonate mudstones, and stylonodular horizons. The laminated mudstones have the greatest effect; 63–99% of the fractures are deflected or arrested at such interfaces, whereas 63–90% are deflected/arrested at paleosols, and 20–35% at stylonodular horizons. In the mudstones, many fractures are arrested at thin, internal laminae, such that few penetrate the entire laminated layer, and fewer still the boundaries between the layers. Paleosol interfaces deflect/arrest more than 60% of all fractures. However, when small-offset fractures above and below paleosols are regarded as penetrating, they are evenly spaced (non-clustered), so that fracture-related fluid transport may occur across the entire paleosol. Stylonodular horizons deflect/arrest and split some fractures, but generally have little effect compared with the other types of interfaces. We present three main mechanisms for fracture deflection and/or arrest: (1) the fracture-induced tensile stress ahead of its tip, referred to as the Cook-Gordon debonding mechanism; (2) rotation of the principal stresses at and across the interface, resulting in the formation of stress barriers; and (3) large elastic mismatch (particularly as regards Young’s moduli) between layers across an interface. All these mechanisms are likely to have operated during fracture propagation and arrest in the carbonate rocks of the Pizzicoli Quarry. 相似文献
Impact melt rocks formed during hypervelocity impact events are ideal for studying impact structures. Here, we describe impact melt rock samples collected proximal to the 31 km wide 58 Ma Hiawatha impact structure, northwest Greenland, which is completely covered by the Greenland Ice Sheet. The melt rocks contain diagnostic shock indicators (e.g., planar deformation features [PDF] in quartz and shocked zircon) and form three groups based on melt textures and chemistry: (i) hypocrystalline, (ii) glassy, and (iii) carbonate-based melt rocks. The exposed foreland directly in front of the structure consists of metasedimentary successions and igneous plutons; however, the carbonate-based impactites indicate a mixed target sequence with a significant carbonate-rich component. Well-preserved organic material in some melt rocks indicates that North Greenland at the time of impact was host to abundant organic material, likely a dense high-latitude temperate forest. Geochemical signatures of platinum-group elements in selected samples indicate an extraterrestrial component and support previous identification of a highly fractionated iron impactor in glaciofluvial sand. Our results illustrate the possibility to study impact structures hidden beneath a thick ice sheet based on transported samples and this opens a new avenue for identifying other potential impact craters in Greenland and Antarctica. 相似文献