Journals Information
Advances in Economics and Business Vol. 11(4), pp. 51 - 62
DOI: 10.13189/aeb.2023.110402
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A Composite Indicator Approach for the Water, Energy, and Food Nexus in Asia: The WEF Nexus Index
Salla Nithyanth Kumar 1,*, Kanak Singh 2, Pritee Sharma 3
1 JP Narayan National Centre of Excellence in the Humanities, Indian Institute of Technology Indore, India
2 School of HSS, Indian Institute of Technology Indore, India
3 School of HSS and JP Narayan National Centre of Excellence in the Humanities, Indian Institute of Technology Indore, India
ABSTRACT
The analysis of the Water, Energy, and Food Nexus (WEF nexus) gained importance as another opportunity to integrate management of natural resources. The inherent links among the three resources in the WEF system would purport integrative thinking. Although, these links are intertwined in a complex way, still they can lead to identifying the possibilities of interpreting new trade-offs and synergies. The efforts in this direction are severely constrained by the lack of available data. In this vein, this study aims to apply a quantitative approach namely- a composite indicator for indicating integrated resources management. The Asian geography is chosen to conduct the analysis since Asia is geopolitically and economically important. Furthermore, we analysed India’s progress in realising the integrated management of the resources in comparison to the highest and lowest seven countries' scores on the Index. In doing so, it provides an opportunity to prescribe policy directions to progress in terms of sustainable development, allocation and access to the natural resources, and environmental protection. Coming to the methodology, we used the composite indicators and the scoreboards ‘COIN’ tool developed by the Joint Research Centre: Competence Centre on Composite Indicators and Scoreboards, Ispra, Italy. A conceptual framework is developed to select indicators arising from the dimensions of people, governance, and environment without jeopardising the dimensions of sustainability. The data sources are secondary. The raw dataset went under a series of treatment procedures such as missing values imputation, dealing with outliers, normalisation, and aggregation. The results are visualised through radial diagrams.
KEYWORDS
WEF Nexus, SDGs, Distributive Justice, Composite Indicator
Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Salla Nithyanth Kumar , Kanak Singh , Pritee Sharma , "A Composite Indicator Approach for the Water, Energy, and Food Nexus in Asia: The WEF Nexus Index," Advances in Economics and Business, Vol. 11, No. 4, pp. 51 - 62, 2023. DOI: 10.13189/aeb.2023.110402.
(b). APA Format:
Salla Nithyanth Kumar , Kanak Singh , Pritee Sharma (2023). A Composite Indicator Approach for the Water, Energy, and Food Nexus in Asia: The WEF Nexus Index. Advances in Economics and Business, 11(4), 51 - 62. DOI: 10.13189/aeb.2023.110402.