A New Integrated Portfolio Based Water-Energy-Environment Nexus in Wetland Catchments

Farhad Yazdandoost () and Seyyed Ali Yazdani ()
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Farhad Yazdandoost: K. N. Toosi University of Technology
Seyyed Ali Yazdani: K. N. Toosi University of Technology

Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), 2019, vol. 33, issue 9, No 2, 3009 pages

Abstract: Abstract Increasing demand of vital resources such as water and energy will impose some overwhelming environmental degradation, particularly on wetlands as the most vulnerable bodies of the environment. Consequently, optimization of water and energy portfolios have been widely studied in order to ensure environmental sustainability and to consider the constraints simultaneously. In this study improving the security of portfolios has been performed based on resource security index to find non-dominated portfolios (Pareto Frontier). Non-dominated portfolios as scenarios to remediate water bankruptcy have been developed and probable environmental impacts have been assessed. A new Financial-Environmental Index called Water-Energy-Environment Nexus Security Index (WEENSI) have been utilized through a multi criteria decision making approach to find admiringly compatible non-dominated water and energy portfolios for environmental remediation purposes in the case of the Lake Urmia catchment as an epitome of water bankruptcy situation. Results indicate that portfolio based management approaches could be a desired solution to water bankruptcy and an inspiring option for environmental remediation, particularly in wetland catchments. It has further become known that persisting on the conventional water resources management in this catchment will increase water demand of energy sector up to more than 500 million cubic meters (MCM) in 2060, exacerbating the current critical environmental condition. Also, increasing the share of renewable energies at least up to 40% must be taken into account by managers and policy makers. Broadly speaking, any development of energy sector requires an urgent change in the currently practiced approach and considerable investment in non-conventional energy resources. The increase in primary costs of optimizing and improving the water and energy portfolios may alleviate the anthropogenic impacts with high social costs to the region.

Keywords: Integrated water resources management; Modern portfolio theory; Multi criteria decision making; Nexus approach; Water bankruptcy; Wetlands (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s11269-019-02280-1

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