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Framed within global policy debates over the need for private financial flows to align with the capital requirements of the Paris Agreement, this paper examines UK asset managers in their approaches to disclosing and managing climate risk. This paper identifies and evaluates climate risk management practices among this under-researched investor group in their capacity to address fundamental behavioural obstacles to low-carbon investment.

This paper takes an inductive approach to document analysis, applying content and thematic analysis to the annual disclosures of the 28 largest UK asset managers (by assets under management), including the investment management arms of insurance and pension companies.

The main takeaway from this research is that today’s climate risk management strategies hold potential to effectively address traditionally climate risk-averse investor behaviour and investment processes in the UK asset management context. However, this research finds that the use of environmental, social and governance (ESG) investment strategies to mitigate climate risks is a “grey area” in which climate risk management practices are undefined within broad sustainability and responsible investment agendas. In doing so, this paper invites further research into the extent to which climate risks are considered in ESG investment.

This paper contributes to research in sustainable finance and behavioural finance, by identifying the latest climate risk management techniques used among UK-headquartered asset managers and uniquely evaluating these in their capacity to address barriers to low-carbon investment arising from organisational behaviours and processes.

The purpose of this paper is to examine pro-poor urban asset adaptation to climate variability and change. It constructs a conceptual framework that explores the appropriate asset adaptation strategies for extreme poor households as well as the process of supporting these households and groups in accumulating these assets.

Qualitative data are obtained from life histories, key informant interviews (KIIs) and focus-group discussions (FGDs). These data are collected, coded and themed.

This research identifies that households among the urban extreme poor do their best to adapt to perceived climate changes; however, in the absence of savings, and access to credit and insurance, they are forced to adopt adverse coping strategies. Individual adaptation practices yield minimal results and are short lived and even harmful because the urban extreme poor are excluded from formal policies and institutions as they lack formal rights and entitlements. For the poorest, the process of facilitating and maintaining patron–client relationships is a central coping strategy. Social policy approaches are found to be effective in facilitating asset adaptation for the urban extreme poor because they contribute to greater resilience to climate change.

This study analyses the empirical evidence through the lens of a pro-poor asset-adaptation framework. It shows that the asset-transfer approach is an effective in building household-adaptation strategies. Equally important is the capacity to participate in and influence the institutions from which these people have previously been excluded.

The blockchain-based digital twin has been recognized as a prominent technological ecosystem featuring synergies with both established and emergent information management practice. The purpose of this research is to explore the applicability, interoperability and integrability of a blockchain-based digital twin for asset life cycle management and develop a model of framework which positions the digital twin within a broader context of current management practice and technological availability.

A systematic literature review was performed to map use cases of digital twin, IoT, blockchain and smart contract technologies. Surveys of industry professionals and analyses were conducted focussing on the mapped use cases' life cycle–centric applicability, interoperability and integrability with current asset life cycle management practice, exploring decision support capabilities and industry insights. Lastly, a model of framework was developed based on the use case, interoperability and integrability findings.

The results support approaching digitization initiatives with blockchain-based digital twins and the positioning of the concept as both a strategic tool and a multifunctional on-field support application. Integrability enablers include progression towards BIM level 3, decentralized program hubs, modular cross-technological platform interfaces, as well as mergeable and scalable blockchains.

Knowledge of use cases help highlight the functionality of an integrated technological ecosystem and its connection to comprehensive sets of asset life cycle management aspects. Exploring integrability enablers contribute to the development of management practice and solution development as user expectations and technological prerequisites are interlinked.

The research explores asset life cycle management use cases, interoperability and integrability enablers of blockchain-based digital twins and positions the technological ecosystem within current practice and technological availability.

The authors analyze the equilibrium effects of non-tradable assets on optimal policy portfolios. They study how the existence of non-tradable assets impacts optimal asset allocation decisions of investors who own such assets and of investors who do not have access to non-tradable assets.

In this theoretical analysis, the authors analyze a model with tradable and non-tradable asset classes whose cash flows are jointly normally distributed. There are two types of investors, with and without access to non-tradable assets. All investors have constant absolute risk aversion preferences. The authors derive closed form solutions for optimal investor demand and equilibrium asset prices. They calibrated the model using US data for listed equity, bonds and private equity. Further, the authors illustrate the sensitivities of quantities and prices with respect to the main parameters.

The study finds that the existence of non-tradable assets has a large impact on optimal asset allocation. Investors with (without) access to non-tradable assets tilt their portfolios of tradable assets away from (toward) assets to which non-tradable assets exhibit positive betas.

The model provides important insights not only for investors holding non-tradable assets such as private equity but also for investors who do not have access to non-tradable assets. Investors who ignore the effect of non-tradable assets when reverse-engineering risk premia from asset covariances and market capitalizations might severely underestimate the equity risk premium.

The authors provide the first comprehensive analysis of the equilibrium effects of non-tradability of some assets on optimal policy portfolios. Thus, this paper goes beyond analyzing the effects of market imperfections on individual portfolio choices.

Damage functions constitute an essential part of the modelling of critical infrastructure (CI) performance under the influence of climate events. This paper aims to compile and discuss publications comprising damage functions for transport assets.

The research included the collection of contemplable literature and the subsequent screening for damage functions and information on them. In conclusion, the derived damage curves and formulae were transferred to a unified design.

Damage functions for the transport sector are scarce in the literature. Although specific damage functions for particular transport assets exist, they mainly consider infrastructure or transport in general. Occasionally, damage curves for the same asset in different publications vary. Major research gaps persist in wildfire damage estimation.

The study scope was restricted to the hazards of fluvial floods and wildfires. Despite all efforts, this study did not cover all existing literature on the topic.

This publication summarises the state of the art of research concerning transport asset damage functions, and hence contributes to the facilitation of prospective research on CI performance, resilience and vulnerability modelling.

The purpose of this study is to examine the dynamic relationship between intellectual capital (IC) and its components on financial performance of banks within the selected eight countries of Association of Southeast Asian Nations (ASEAN).

The study utilizes the balanced panel data of 37 publicly listed banks from eight leading ASEAN economies for the period of 2017–2021. In this sense, the authors applied the Ante Pulic's typology, i.e. value-added intellectual coefficient (VAIC™) to evaluate the efficiency of intangible and tangible assets. While, investigating the dynamic nature of relationship, the authors employed the generalized system method of moments because of its power to account for the problem of endogeneity and heteroscedasticity.

The results of the study demonstrate that banks in ASEAN countries shed a varied degree of a spotlight on VAIC™ and its components to create value. The findings revealed that structural capital efficiency is significantly associated with earning per share (EPS), return on assets (ROA) and return on equity (ROE), compared to human capital efficiency (HCE) and capital employed efficiency of ASEAN banks. These results endorse the importance of resource- and knowledge-based views of organizations to leverage the financial performance of banks. However, contrary to theoretical expectations, this study found no positive relationship between HCE with ROA and ROE. Whereas, the relationship of VAIC™ is positive and significant with EPS and ROE but it remains statistically very marginal.

There are some inherent limitations in this study that could be opportunities for future research. The current study uses the VAIC™ typology, but future researchers can use the modified value-added intellectual coefficient (MVAIC) or triangulation approach to enhance the validity and reliability of the study. Additionally, future research can investigate the similarities and differences among countries in terms of their cultural backgrounds and regulatory frameworks regarding the disclosure of intangibles. Furthermore, future research can increase the length and sample size of the study to enhance its generalizability.

The robust empirical findings extend the academic debate on IC by unveiling the dynamic nature of relationship between IC and financial performance in context of ASEAN banking sector. The findings provide plausible recommendations for policy makers (managers, regulators and stakeholders) to understand how to increase the IC efficiently, especially human capital as a source to evaluate the firms’ ability in determining value-added and financial performance. Further, findings of this study also suggest that how can policy makers get the benefit by investing more on structural capital as a valuable strategic source to guarantee the optimal performance returns.

Prior studies on IC have been country- and firm-specific, utilizing cross-sectional research designs. However, this research contributes to the limited literature by investigating the dynamic nature of the relationship between IC and financial performance of banks in the context of ASEAN countries using micro-panel data.