The Network for the Public Communication of Science and Technology (PCST) has announced the results of its inaugural PCST Award competition, recognizing exceptional contributions to the advancement of science communication as a professional field. The top prize was awarded to Professor Bruce Lewenstein of Cornell University (USA), honoring his decades-long impact on science communication research, education, and professional infrastructure worldwide. Susana Herrera-Lima (Mexico) and Toss Gascoigne (Australia) were named runners-up for their transformative work in building science communication capacity and influence in their respective regions and worldwide. The PCST Award is generously supported by the GIST Graduate School of AI Policy and Strategy (Republic of Korea). The winner received a cash prize of 1,500 USD, and each runner-up received 700 USD.

Abstract

Purpose – This paper originally proposed the fuzzy option pricing method for green bonds. Based on the requirements of arbitrage equilibrium, this paper draws on Merton's corporate bond option pricing model.

Design/methodology/approach – Describing the asset value behavior of green bond issuing enterprises through diffusion-jump processes to reflect the uncertainty brought by carbon emission reduction policies and technologies, using approximation methods to get the analytical pricing formula and then, using a fuzzification technique of Choquet expectation under  λ-additive fuzzy measures after considering fuzzy factors, the paper provides fuzzy intervals for the parity coupon rates of green bonds with different subjective levels for investors.

Findings – The paper proposes and argues the classical and fuzzy option pricing methods in turn for both corporate ordinary bonds and green bonds, considering carbon risk or climate risk. It implements the scenario analysis varying with industry emission standards and discusses the sensitiveness of the related key parameters of the option.

Practical implications – The fuzzy option pricing for the green bonds provides the scope of the variable equilibrium values, operational theoretical supports and some policy implications of carbon reduction and promoting green funding.

Originality/value – The logic of introducing the fuzziness of the option pricing for the green bonds lies with considering the existence of fuzzy information about the project supported by the green bond and the subjectivity of investors and it also responds to changes in technological uncertainty and policy uncertainty in the process of “carbon peaking and carbon neutrality.”

Over recent centuries, the intensification of land use has caused the loss of natural sponge functions in landscapes. River straightening, bank stabilisation and embankments disrupt the natural exchange of water with the floodplains, which not only absorb and slowly release water during droughts but also provide diverse habitats, nature-based flood protection, and valuable recreational areas. Restoring wetlands is vital in addressing the climate and biodiversity crises.

The "SpongeBoost" project supports policy-making, restoration, and land-use planning, promoting cost-effective, nature-based solutions that align with EU Climate Adaptation goals. With the establishment of the “SpongeBooster of the Year” award, the project aimed to spread recognition for those committed to restoring sponge landscapes, assessed not only on implementation but also on public relations, environmental education, and regional cooperation.