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Sylff@Tokyo: Memorable Office Concert by Juilliard Fellow

June 9, 2023

Timothy Chooi, a 2018–19 Sylff fellowship recipient at the Juilliard School, visited the Sylff Association secretariat with his older brother, Nikki, for an office concert on May 22, 2023.

Program
1) Bach: “Andante” from Sonata No. 2 in A minor BWV 1003 (Timothy Chooi) [1:25-5:55]
2) Prokofiev: Sonata for Two Violins (Nikki and Timothy Chooi) [7:00-22:05]
3) Massenet: Meditation from “Thaïs” (Nikki and Timothy Chooi) [22:15-27:45]

The Chooi brothers are on a tour of several countries in Asia and stopped by the Tokyo Foundation for Policy Research during their stay in Japan. Timothy currently performs on the 1709 “Engleman” Stradivarius violin, on loan from the Nippon Music Foundation, a sister organization of the Tokyo Foundation.

(From left) Reiko Ishikawa and Tamio Kano of the Nippon Music Foundation; Nikki and Timothy Chooi; executive director Mari Suzuki, program officer Maki Shimada, and director Keita Sugai.

Visit the websites of Timothy and Nikki Chooi to learn more about their achievements and upcoming concerts:
Timothy Chooi: https://www.timothychooi.com/
Nikki Chooi: https://www.nikkichooi.com/

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Sylff@Tokyo: Juilliard Fellow’s Community Healing Initiatives

June 2, 2023

Erika Mitsui, a 2015–16 Sylff fellowship recipient at the Juilliard School, visited the Sylff Association secretariat on May 8, 2023. She is a multitalented fellow, having graduated from Columbia University with a degree in East Asian studies before earning a master’s in violin at the Julliard School and receiving a medical degree (MD) at Columbia.

(From left) Program officer Maki Shimada, Sylff fellow Erika Mitsui, and executive director Mari Suzuki.

Her visit, which was her second to the Tokyo Foundation, came right after the Golden Week string of holidays in Japan. With her social science, musical, and medical degrees, she is contributing to society in a very unique way.

After graduating from the Juilliard School, she spent about a year playing the violin at various public venues, including an inpatient ward of a hospital. This was an eye-opening experience that convinced her that music has the power to heal people even with serious diseases like cancer and to ease emotional hardships. She thus chose to embark on a new career path that would enable her make a direct impact on the lives of people in the community.

From this summer, she will serve as a resident physician at Columbia, advancing her training in anesthesiology, internal medicine, and the respiratory system. She is also continuing to promote physical and emotional healing through music, taking part in a concert at a hospital with an orchestra.

She contributes actively to the community as a member of the New York–based Japanese Medical Society for America, exploring ways to overcome complications from COVID-19; she also works on a website to encourage both healthy and ill people to think about their life closure preferences—for example, whether or not they seek life-prolonging treatment. Most medical books about this issue are published in English, so she hopes to translate them into Japanese and other languages.

We thank Mitsui for visiting the Foundation and wish her continued success in her professional career.

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Performance of ESG Investment Strategies: Evidence from the 2015–2020 Bull Market and the Impact of COVID-19

June 2, 2023
By 30810

Máté Fain is a 2022 Sylff Fellow (Corvinus University of Budapest, Hungarian Academy of Sciences Group). For this dissertation, he explored whether environmental, social and governance (ESG) investment strategies are compatible with boosting the corporate “bottom line.” He concludes that good ESG may not always generate superior returns under adverse market conditions such as a pandemic. However, combined with traditional styles, it might yield positive outcomes.

* * *

What do oil, soybean, gold, and water have in common? The answer, at first, may be surprising: in late 2020, water joined these well-known commodities on Wall Street: Californian farmers, hedge funds, and municipalities can now purchase water futures to hedge related risks. Besides water, weather derivatives are another type of commodity responds to environmental challenges but has a more mature market: the Chicago Mercantile Exchange introduced the first exchange-traded weather futures contracts and corresponding options in 1999, mostly tracking cooling or heating days. Some studies have gone even further and explored designing and pricing air-pollution derivatives.

More importantly, these market developments and scientific initiatives on risk management draw attention to sustainability. Sustainability challenges are getting more severe as life-sustaining natural resources become scarce worldwide.

Fostering environmental, social, and economic dimensions of sustainability is an urgent challenge to society. The Paris Agreement signed in 2016 to mitigate climate change or the United Nations Sustainable Development Goals (SDGs) established in 2015 with a broader scope on environmental and social concerns underscores the inevitability of addressing sustainability.

Stakeholder theory argues that dealing with stakeholder claims – from customers, employees, local communities, shareholders, and even the natural environment – is imperative for companies to fulfill their mission. Meanwhile, advocates of the trade-off hypothesis contend that resource reallocation to sustainability activities does not pay off; instead, such activities raise operating costs due to the internalization of externalities. Consequently, I examined if, it is possible to reconcile sustainability with companies’ financial objectives.

The Research Question: Does "Doing Well While Doing Good" Prevail?

Alignment with sustainability goals might be assessed from as many angles as stakeholders exist. I focused on shareholder wealth and examined sustainability from an asset-owner perspective: is it possible to boost the bottom line by implementing sustainable corporate practices? Does the “doing well while doing good” concept prevail? If so, investors, as influential stakeholders, may drive sustainable economic growth.

Studying the impact of sustainability on shareholder value-added may manifest in several forms. Firstly, the analysis might cover accounting profitability, respond to how equity markets price sustainability, and identify the potential risk-adjusted excess returns for investors. My research intended to explore the last case.

In the investment literature, environmental, social and governance (ESG) is a broad umbrella term for firms’ sustainability . A wide range of ESG-conscious investment strategies exists, from exclusionary screening to direct shareholder engagement. My research concentrated on the ESG integration approach (applying ESG scores ranging from 0 to 100 of corporations to compile stock portfolios) and ESG-themed investing (equity portfolios that use megatrends such as energy efficiency, aging population, water scarcity, and cybersecurity). ESG integration is exceptionally popular, with US$25,000 billion in total assets under management, while thematic investing is the most significantly rising strategy, with a 2,250 per cent increase in 8 years.

Figure 1. Global growth of sustainable investing strategies
Note: AUM stands for “assets under management.” Source: GSIA (2020, p. 11)

For the ESG integration strategy, I applied separate environmental, social and governance ratings, and every stock belonged to one of the following portfolios: leaders, followers, loungers, laggards, and not rated. Thematic portfolios covered nine UN SDG-related challenges, such as water scarcity, aging population, and cybersecurity concerns. Each thematic portfolio fitted environmental, social and governance megatrends and encompassed firms with business models addressing critical sustainability challenges.

In compiling the ESG portfolio, more than 100 different investment styles, industries, and country exposures were controlled for to filter out secondary factor effects. Altogether the database included more than 15 million data points. The methodology followed a factor portfolio construction procedure: stock weights and returns were derived from extended Fama-MacBeth cross-sectional regressions (Fama, 1976; Fama and MacBeth, 1973). The time-series analysis of ESG factor portfolio returns applied the Fama and French (2018) right-hand-side approach.

Contribution

This research contributes to the existing investment literature on sustainability in several ways. Firstly, it complements the active debate about the role of ESG in general, which is far from settled (i.e., it is still an open question if it is possible to achieve significant extra returns with ESG, or, on the contrary, these investments are underperformers causing loss to investors). Secondly, to the best of my knowledge, no one has yet applied a stakeholder-based conceptual model that differentiates “organizational” and “global” sustainability. Originally Garvare and Johansson (2010) drew the distinction between organizational and global sustainability. ESG integration is consistent with organizational sustainability, while ESG-themed investing corresponds more to global sustainability.

The dissertation emphasizes the megatrend concept and integrates signaling theory into the stock selection processes. It also introduces a new mathematical formula for measuring megatrend exposures. Using the right-hand-side approach in the ESG framework is a novelty as well. Further, ESG-themed investing is a relatively new strategy, having shorter history than other strategies, such as negative screening, which was the pioneer sustainability investing strategy; hence, it is under-researched in the literature. Finally, the database used is unique and comprehensive, making the data suitable for measuring the pure performance of ESG factors.

Empirical Results in a Nutshell

The analyses revealed some remarkable findings. Investors allocating resources to ESG leaders and thematic portfolios achieved returns in the longer term commensurate with risk. Further, in the ESG integration strategy, a nonlinear relation prevailed, which contradicts the literature’s most common findings that there is either a positive, negative or neutral relationship between financial and ESG performance (non-linearity means that financial performance does not increase proportionally with ESG performance, as there is a “peak” after which increasing ESG performance does not come with significantly higher financial performance; sometimes financial performance even decreases, suggesting an inverted-U graphical representation of the ESG-financial performance relation), supporting diminishing marginal returns to ESG (law of diminishing returns: a firm will get less and less extra output – here, financial returns – when it adds additional units of an input – here, better ESG compliance). Next, during the exogenous shock of the COVID-19 pandemic, the figures did not corroborate the literature’s “flight to quality” concept (i.e., investors begin to shift their assets away from riskier investments into safer ones). Finally, no sufficient evidence was found for ESG factors to complement Fama and French models (Fama-French models detect factors such as firm size and investment policy that could explain stock returns; if a new factor is found, it could be added to the previous ones).

In summary, in most cases, investors could realize at least fair returns with sustainable investing. This finding is consistent with the efficient-market hypothesis, i.e., share prices reflect all public information, stocks trade at their fair market value. In other words, although there is only a slight chance for investors to gain superior risk-adjusted returns, they could contribute to the higher goals of sustainability without sacrificing returns.

Implications

The empirical results imply that most ESG portfolios yielded non-negative excess returns, even after accounting for transaction costs up to 25-50 basis points per annum. Higher transaction costs, as is the case for some exchange traded funds (frequently abbreviated ETFs) with expense ratios reaching 80-100 basis points per annum, may indicate two things: ESG-themed megatrend investors are willing to sacrifice approximately 25-50 basis points of annual return to remain aligned with sustainability targets, or the expense ratio may well decline in the future (nowadays, the average expense ratio is around 0.60 per cent).

Portfolio managers who integrate sustainability in their investment portfolios undertake a dual optimization process that combines ESG strategies with fundamental valuation. The proposed ESG pure factor portfolios might be utilized as smart beta indices to measure investment portfolios’ ESG factor exposure. This method is superior to calculating the overall ESG rating of investment portfolios currently commonly used by asset managers, as it separates the performance contribution of ESG from the secondary factors such as geographical, industry, or style effects.

ESG portfolios allow asset owners and managers to align their investment policies with the requirements and targets of international standards and regulations. According to a representative of the central bank of Hungary, whom I interviewed, both strategies are consistent with the EU Sustainable Finance Disclosure Regulation requirements. Thematic investing might be aligned with the Taxonomy Regulation and can be flexibly adapted to the SDGs and the climate goals of the Paris Agreement.

These results do not provide sufficient evidence for “flight to quality” during the first wave of the COVID-19 pandemic regarding ESG leaders, which contradicts Albuquerque et al. (2020), Broadstock et al. (2021), and Ding et al. (2021). One possible explanation might be that secondary factor effects substantially influence good ESG portfolios. Once these secondary effects are considered and filtered out, the otherwise observable outperformance disappears.

In summary, good ESG is not necessarily a panacea to generate superior returns during adverse market conditions such as a pandemic. However, combined with traditional styles or sectors, it might yield positive outcomes.

References

Albuquerque, R., Koskinen, Y., Yang, S., & Zhang, C. (2020). Resiliency of environmental and social stocks: An analysis of the exogenous COVID-19 market crash. The Review of Corporate Finance Studies, 9(3), 593-621. https://doi.org/10.1093/rcfs/cfaa011  

Broadstock, David C., Kalok Chan, Louis T. W. Cheng, and Xiaowei Wang. “The Role of ESG Performance During Times of Financial Crisis: Evidence from COVID-19 in China.” Finance Research Letters 38 (2021): 101716. https://doi.org/10.1016/j.frl.2020.101716.

Ding, Wenzhi, Ross Levine, Chen Lin, and Wensi Xie. “Corporate Immunity to the COVID-19 Pandemic.” Journal of Financial Economics 141, no. 2 (2021). https://doi.org/10.1016/j.jfineco.2021.03.005.

Dodd, E. Merrick, Jr. “For Whom Are Corporate Managers Trustees?” Harvard Law Review 45, no. 7 (1932): 1145–63. https://doi.org/10.2307/1331697.

Fama, Eugene F. Foundations of Finance: Portfolio Decisions and Securities Prices. New York: Basic Books, 1976.

Fama, Eugene F., and Kenneth R. French. “Choosing Factors.” Journal of Financial Economics 128 (2018): 234–52. https://doi.org/10.1016/j.jfineco.2018.02.012.

Fama, Eugene F., and James D. MacBeth. “Risk, Return, and Equilibrium: Empirical Tests.” Journal of Political Economy 81 (1973): 607–36. https://doi.org/10.1086/260061.

Garvare, Rickard, and Peter Johansson. “Management for Sustainability – A Stakeholder Theory.” Total Quality Management & Business Excellence 21 (2010): 737–44. https://doi.org/10.1080/14783363.2010.483095.

Global Sustainable Investment Alliance. Global Sustainable Investment Review 2020. GSIA, 2020. http://www.gsi-alliance.org/trends-report-2020/.

 

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Combatting Sexual Violence in the Metaverse: A Comparative Legal Analysis

May 25, 2023
By 30587

Disturbing reports of sexual assault and harassment in the metaverse have raised questions about how users and society—particularly minors—can be better protected from exploitation and how offenders can be punished. To shed light on this issue, criminal law expert Sou Hee Yang (Waseda University, 2021) used an SRG grant to analyze how various jurisdictions are addressing the problem of sexual violence in the metaverse within the framework of their legal systems.

*   *   *

The metaverse is “a virtual space that other users can create, explore, and meet without having to be in the same space in real life” (Setiawan et al. 2022). It provides a platform where individuals can adopt diverse personas through their avatars to interact with people from around the globe.

An image generated by using the prompt, "metaverse avatars hanging out together," by Sifted via Starryai (https://starryai.com/app/create).

I had no particular interest in the metaverse, which seemed like a digital realm frequented only by tech enthusiasts, until I came across an online news article recounting a researcher’s claim that her avatar had been sexually assaulted in a metaverse (Soon 2022). I was both intrigued and puzzled by this claim. How is it possible to be sexually assaulted in a virtual world?

So I did some research and discovered that sexual violence does take place on virtual platforms in various ways; examples include groping another person’s avatar, sending unwanted, explicit messages, and approaching minors with the purpose of sexual exploitation (Frenkel and Browning 2021). The range and seriousness of such acts vary, with certain types, such as grooming minors, warranting strict countermeasures (Hinduja 2023).

There are many challenges to punishing acts of virtual sexual violence, however. First, it can be difficult to identify and prosecute the perpetrators, given the borderless nature of the metaverse. Second, sexual violence in the metaverse usually does not involve physical contact and is thus not subject to the same kind and degree of criminal punishment as real-world transgressions. It is important to recognize, though, that cyber violence can cause great psychological harm, leading to depression, anxiety, stress, and post-traumatic stress disorders (Cripps and Stermac 2018).

Being a legal researcher specializing in sex crimes, I was intrigued by these findings and wanted to explore how various countries—namely, the United Kingdom, the United States, and South Korea—are addressing this problem within the framework of their legal systems and whether they had provisions to punish sexual violence in the metaverse. More specifically, I reviewed and compared the laws related to the three most frequent forms of violence: virtual groping, sending unsolicited sexual messages, and making sexual advances toward children. My findings, based on the study, are as follows.[*]

First, users with female avatars often experience virtual groping: that is, the sexual parts of their avatars are touched without consent by another user’s avatar. Punishing such acts can be challenging, though, since sex offenses under criminal law are premised on physical contact (Cho 2022). Virtual reality headsets and haptic gloves already give users a degree of sensory feedback from events in the metaverse (Kim et al. 2022). If technology is further developed to enhance such sensations to a level closely approximating real life, virtual groping may arguably constitute “touching” for the purpose of criminal punishment.

There are two shortcomings to this argument, however, namely, that virtual sensations are still not the same as physical contact and that users can immediately stop unwanted sensations by simply removing their gear. Concerning the latter, though, it is possible for users to experience “tonic immobility”—a state of involuntary paralysis during sexual assault thought to be a natural survival reaction (Kalaf et al. 2017). Further research will be required to elucidate whether victims of cybersex crimes can also experience tonic immobility and, even if so, whether virtual groping would be subject to criminal punishment under British, US, and South Korean law.

A man with a virtual reality headset and controllers by SHVETS Production via Pexels (https://www.pexels.com/photo/a-man-with-a-virtual-reality-headset-and-controllers-7562023/).

Second, a user can be punished for harassing another user in the metaverse by sending sexual messages. In South Korea, if it can be shown that the user made comments to “arouse or satisfy his/her own or the other person’s sexual urges” and may cause “a sense of sexual shame or aversion,” the user can be punished under Article 13 (Obscene Acts by Using Means of Communications) of the Act on Special Cases Concerning the Punishment of Sexual Crimes. In the United Kingdom, acts of harassing someone by sending sexual messages in the metaverse can be punished under Section 1 of the Malicious Communications Act, but only if it can be proven that the user sent “indecent or grossly offensive” messages with the purpose of causing “distress or anxiety” to the user on the receiving end.

In the United States, where freedom of speech is more strongly protected, the threshold for penalization is higher. For example, threatening sexual messages intended to place another user “in reasonable fear for his or her safety” is punishable under Section 653.2 of California’s Penal Code. However, to apply Section 653.2, it also needs to be proven that the user sent the threatening messages with the purpose of “imminently causing that other person unwanted physical contact, injury, or harassment.” This purpose is difficult to prove for most interactions in the metaverse, as they are generally anonymous. The laws demonstrate that making extremely offensive sexual comments in the metaverse may result in criminal sanctions, but the laws vary in their nature, requirements, and purpose.

Lastly, making sexual advances toward children in the metaverse is punishable in the United Kingdom, the United States, and South Korea. For example, a British user can be punished under Section 15A of the Sexual Offences Act 2003 for sending a sexual message to a user under 16 with the purpose of “obtaining sexual gratification.” Moreover, the Online Safety Bill, currently in the committee stage in the House of Lords, if passed, will provide more robust protection against child users in the metaverse (UK Parliament 2022).

Among many forms of making sexual advances to children in the metaverse, asking children to send sexual pictures of themselves is considered a serious offense. For example, in South Korea, a man was arrested on charges of sexually grooming minors when he asked child users to send sexual pictures of themselves upon befriending them through his “charming” avatar and gaining their trust by giving presents to their avatars (Kim 2022). As in this example, the acts of approaching children, building trust, and inducing reliance with the purpose of making sexual advances at them are called “grooming” (Lorenzo-Dus and Izura 2017). Online grooming is a serious problem, particularly in the metaverse, because adult users can use their avatars to make child users believe that they are speaking with a friend their own age and thereby lower their guard. While the laws of the United States vary by state, some form of online grooming is punishable in most states. For example, knowingly seducing or enticing a minor to engage in unlawful sexual conduct can be punished under Florida Statute § 847.0135(3). Approaching children online with intent to meet them or to engage in sexual conduct is considered a more serious crime because such acts put children at real risk of sexual exploitation.

The results of this study indicate three key legal considerations. First, before considering penalization of acts of sexual violence in the metaverse, it is necessary to categorize different forms of sexual violence based on their nature and the severity of harm, both to victims and society. Secondly, it is desirable to enact laws that can at least punish some acts of sexual violence in the metaverse that causes serious harm to the victims, such as grooming of minors. Finally, there should be continued social debate on what kind of sexual conduct warrants punishment under criminal law. For example, in Japan, where I reside, there is an ongoing movement to amend sex crime laws, including the enactment of laws that punish acts of grooming and sharing of sexual images of a victim without consent. One amendment proposal was written with the participation of various stakeholders, including leaders of victim support groups, psychologists, and legal experts (Legislative Council, n.d.). Such active discussion involving various stakeholders is desirable as a means of reaching a social consensus on what the types of metaverse-based sexual violence that should be punished.

This study demonstrates how criminal laws of various countries address sexual violence in the metaverse. In addition to legislative efforts, tech companies are introducing policies to strengthen the safety of their virtual spaces. These are important measures in preventing and managing sexual violence in the metaverse. However, it should be remembered that sexual violence will inevitably manifest in virtual worlds as long as it persists in the real world. Only by addressing the problems of sexual violence in reality can they be resolved in the metaverse.

[*] This study was made possible by an SRG grant in 2022, which allowed me to access the court cases of different countries and to review academic and legal reports and articles related to sexual violence in the metaverse. I was also able to hire two competent research assistants to assist me with legal research in various languages.

References

Cho, S. 2022. “Sexual Assault in Immersive Virtual Reality: Criminal Law Must Keep Up with Technology.” Harvard Undergraduate Law Review, September 6, 2022. https://hulr.org/spring-2022/sexual-assault-in-immersive-vr.

Cripps, J., and L. Stermac. 2018. “Cyber-Sexual Violence and Negative Emotional States among Women in a Canadian University.” International Journal of Cyber Criminology, 12(1): 171. https://doi.org/10.5281/zenodo.1467891.

Crown Prosecution Service. 2023. Social Media and other Electronic Communications, March 17, 2023. https://www.cps.gov.uk/legal-guidance/social-media-and-other-electronic-communications.

Frenkel, S., and K. Browning. 2021. “The Metaverse’s Dark Side: Here Come Harassment and Assaults.” New York Times, December 30. https://www.nytimes.com/2021/12/30/technology/metaverse-harassment-assaults.html.

Hinduja, S. 2023. Child grooming and the metaverse: Issues and solutions. Cyberbullying Research Center, March 21, 2023. Retrieved April 8, 2023, from https://cyberbullying.org/child-grooming-metaverse.

Kalaf, J., E. S. F. Coutinho, L. M. P. Vilete, M. P. Luz, W. Berger, M. V. Mendlowicz, E. Volchan, S. B. Andreoli, M. I. Quintana, J. De Jesus Mari, and I. Figueira. 2017. “Sexual trauma is more strongly associated with tonic immobility than other types of trauma: A population based study.” Journal of Affective Disorders, 215: 71–76. https://doi.org/10.1016/j.jad.2017.03.009.

Kim, D. 2022. 메타버스서 미성년자 11명 성착취물 만든 30대 남성 구속. The JoongAng, April 14, 2022. https://www.joongang.co.kr/article/25063475#home.

Kim, J., Y. Kim, and H. D. Cha. 2022. Study on the sexual crime and criminal regulation in metaverse: Focusing on the direction of revision of the act on promotion of information and communication network utilization and information protection, etc. Contemporary Review of Criminal Law, no.75, 1–33. https://doi.org/10.23026/crclps.2022..75.001.

Legislative Council, Subcommittee on Criminal Law (Sexual Offenses). n.d. Ministry of Justice of Japan. Retrieved April 7, 2023, from https://www.moj.go.jp/shingi1/housei02_003011.

Lorenzo-Dus, N., and C. Izura. 2017. “Cause ur special”: Understanding trust and complimenting behaviour in online grooming discourse. Journal of Pragmatics, 112, 68–82. https://doi.org/10.1016/j.pragma.2017.01.004.

Setiawan, K. D., A. Anthony, N. Meyliana, and N. Surjandy. 2022. “The Essential Factor of Metaverse for Business Based on 7 Layers of Metaverse – Systematic Literature Review.” 2022 International Conference on Information Management and Technology (ICIMTech). https://doi.org/10.1109/icimtech55957.2022.9915136.

Soon, W. 2022. A researcher’s avatar was sexually assaulted on a metaverse platform owned by Meta, making her the latest victim of sexual abuse on Meta’s platforms, watchdog says. Business Insider, June 1, 2022. https://www.businessinsider.com/researcher-claims-her-avatar-was-raped-on-metas-metaverse-platform-2022-5.

UK Parliament (Second Reading, Online Safety Bill). 2022. April 19, 2022. Retrieved April 24, 2023, from https://hansard.parliament.uk/commons/2022-04-19/debates/F88B42D3-BFC4-4612-B166-8D2C15FA3E4E/OnlineSafetyBill.

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SRG and SLI 2023: Call for Applications

May 15, 2023

The Sylff Association secretariat is pleased to announce a call for applications for two Sylff Support Programs in fiscal 2023: Sylff Research Grant (SRG) and Sylff Leadership Initiatives (SLI). These two programs are intended to support the academic and social engagement activities of eligible fellows.

Use the links below to check the respective eligibility requirements, application procedures, and deadlines:

SRG: https://www.sylff.org/support_programs/srg/

SLI: https://www.sylff.org/support_programs/sli/

There will be a pre-screening phase for both programs (preliminary registration for SRG and a concept paper for SLI) to determine the eligibility of applicants. The secretariat will NOT respond to individual inquiries concerning eligibility. Please visit the above pages to confirm your eligibility BEFORE applying. Applications from ineligible fellows will NOT be reviewed.

For SRG, please submit a preliminary registration form (powered by Google) from the link at the bottom of the SRG page. For SLI, please submit a concept paper via e-mail to the Sylff Association secretariat (sylff[a]tkfd.or.jp*)
*replace [a] with @).

We look forward to receiving your submissions!

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Sylff@Tokyo: Athens Fellow Visits the Foundation

May 8, 2023

Apostolos Latsonas, a 2021–22 Sylff fellowship recipient at the National and Kapodistrian University of Athens, visited the Sylff Association secretariat on April 20, 2023. He received an LLA and LLM in legal theory at Athens and is now a practicing M&A lawyer.

(From left) Program officer Konatsu Furuya, director Keita Sugai, Sylff fellow Apostolos Latsonas, executive director Mari Suzuki, and program officer Maki Shimada.

Latsonas, whose expertise lies in jurisprudence, legal history, and artificial intelligence ethics, shared news about his professional and research activities on his visit to the Foundation.

Originally from Greece, he described his hopes of contributing to global society. He has been an exchange student at the Bucerius Law School in Hamburg, Germany, and Keio University in Japan, and he also aspires to study in the United States and to work across the EU.

He was not able to conduct his studies on campus at Keio due to the pandemic, so this visit was his first to Japan, enabling him to finally greet his professors and classmates in person. He has been intrigued by people’s lifestyles in the Japanese cities he has visited, including Tokyo, Nagoya, and Kyoto.

We thank Latsonas for visiting the Foundation and wish him continued success in his academic and professional career.

 

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Powering Up: How Electric Buses are Paving the Way for a Greener Tomorrow

April 17, 2023
By 27797

Bus fleets are increasingly transitioning from diesel to electric. Jônatas Augusto Manzolli, a 2019 Sylff fellow who conducts research on “Adaptive Energy Management Strategies for Electric Bus Fleets” with a Sylff Research Grant (SRG), discusses the challenges of electric bus fleets and ways to mitigate them, as well as their possibilities for a more sustainable future.

*  *  *

“The answer to these problems is not less transport—it is sustainable transport. We need more systems that are environmentally friendly, affordable, and accessible.” —Ban Ki-Moon, former UN secretary-general, when asked about transportation solutions for the future

The era of diesel-spewing buses congesting our streets is a thing of the past. The future of public transportation lies in electric buses, which are no longer just a pipe dream. Reports indicate that by 2040, most buses on the road could be electric.[1] But transitioning to more sustainable and efficient buses is not an overnight process. It poses significant challenges that must be overcome to achieve a sustainable future.

A sizable electric bus fleet in Bogotá, Colombia. (Photo: BYD Colombia)

As a researcher, I focus on enhancing the implementation of electric buses in our communities to create healthier urban environments for everyone. In this article, I will address the four major obstacles in the electrification process of bus transit and share the strategies I am implementing to mitigate them.

Grid Resilience

To truly grasp the magnitude of integrating large fleets of buses into the grid, we can examine the city of Shenzhen in China as an example. Shenzhen phased out all of its diesel-bus fleets and replaced them with electric ones, which has resulted in a massive demand for charging energy.[2] The new fleet requires 2,000 megawatt hours, equivalent to the energy needed to power 1.2 million homes for one hour. This staggering figure underscores the urgent need for improved planning and operation of electric bus fleets to prevent grid disruptions. Upgrading the grid or adopting smart charging techniques are viable solutions, but decision-makers must explore all alternatives to establish dependable and secure electric bus networks.

An electric bus fleet in Shenzhen, China. (Photo: Green Energy Futures, CC BY-NC-SA 2.0, via Flickr)

 Electricity Market

The transition from diesel to electric bus fleets for public transportation operators presents challenges and opportunities, particularly regarding the electricity market. By synchronizing charging times with bus operation schedules, smart charging techniques can potentially exploit better electricity prices during the day, reducing operational costs and improving efficiency. Furthermore, electric bus fleets can act as virtual power plants and provide ancillary services to the grid. A prime example is the BUS2GRID project launched in London, where 28 state-of-the-art double-decker buses are equipped with technology to generate over 1 megawatt of power for the grid.[3] But for buses to become reliable grid auxiliaries in the future, their operation must meet the energy requirements of the grid.

A BUS2GRID trial site in London, UK. (Photo: SSE Energy Solutions)

Operation under Uncertainty

Waiting for a delayed bus can be frustrating. This unfortunate situation happens due to the stochastic nature of bus fleet operations—different driving conditions, uncertain traffic, and unpredictable weather. While this can pose challenges for diesel fleets, it becomes even more complex when dealing with electric bus fleets. The stochastic behavior of electric buses can lead to unpredictable charging patterns and unexpected disruptions in operation, causing grid issues and buses running out of energy mid-route. To tackle these issues, it is essential to develop robust operation and planning systems using advanced planning tools, control algorithms, and real-time data analysis. Accurately forecasting energy needs, reducing operational costs, and ensuring a reliable and efficient electric bus service can be achieved by implementing these systems while minimizing the risk of unforeseen disruptions.

A bus stop in Curitiba, Brazil. (Photo by Sasha Aickin)

Battery Degradation

Battery degradation is a significant challenge when implementing electric bus fleets, with electric buses having a lifespan of only 10 to 12 years due to battery aging.[4] Charging strategies must consider such factors as charging speed, frequency, and temperature to minimize battery aging, while public transportation operators must assess the impact of ancillary services on battery degradation. Developing strategies to mitigate battery degradation is crucial for decision-makers to ensure the reliability and longevity of their electric bus fleets.

Solutions

At INESC Coimbra of the University of Coimbra (Portugal), we are currently developing an intelligent charging model for electric bus fleets that aims to reduce operational costs by 30–40% while simultaneously increasing the battery life cycle of the buses.[5] Our model considers vehicle-to-grid (V2G) technology for energy trading and battery degradation, allowing for a comprehensive analysis of the batteries’ lifespan and ensuring an extended battery life cycle. By optimizing the charging process, we can significantly reduce operational costs.

The electric bus fleet used as our case study in Coimbra, Portugal. (Photo by Paulo Amaral)

Through sensitivity analysis tests, we have discovered that energy trading is not currently advantageous but could become economically profitable soon. To improve battery lifespan and the operation time of bus fleets in cities, we conducted laboratory tests at the e-TESC Laboratory, University of Sherbrooke (Canada), to study the battery degradation behavior of buses under shallow temperatures. We have published a paper detailing our preliminary results in this regard.[6]

 

Battery laboratory tests in Sherbrooke, Canada.

Our ultimate goal is to provide a tool to assist public transportation operators in making informed decisions regarding the electrification of their bus systems. Through our research, we hope to drive the transition toward a more sustainable and environmentally friendly future.

Final Remarks

In summary, adopting electric buses in our communities is a significant milestone in our journey toward sustainability. However, we must acknowledge that this transition is not without its hurdles, and we must overcome them by employing cutting-edge technologies and inventive strategies. By using smart charging techniques, for instance, we can optimize the operational efficiency of electric bus fleets and reduce operating costs while ensuring that charging patterns are predictable and stable, thereby minimizing disruptions to the grid. We can also leverage V2G technology to trade energy with the grid and extend the battery life cycle of buses. Furthermore, we must invest in research and development efforts, such as those that we are undertaking at INESC Coimbra and the e-TESC Laboratory, to improve battery degradation behavior under extreme conditions and ensure that electric buses have a long and sustainable lifespan. Ultimately, our goal should be to provide public transportation operators with decision-making tools and resources to electrify their bus systems successfully and move toward a greener and more eco-friendly future.

[1] E. Mulholland and F. Rodríguez, “The Rapid Deployment of Zero-Emission Buses in Europe,” The International Council on Clean Transportation, September 19, 2022, https://theicct.org/publication/the-rapid-deployment-of-zero-emission-buses-in-europe/.

[2] B. Crothers, “This Chinese City Has 16,000 Electric Buses and 22,000 Electric Taxis. ” Forbes, February 14, 2021, https://www.forbes.com/sites/brookecrothers/2021/02/14/this-chinese-city-has-16000-electric-buses-and-22000-electric-taxis/.

[3] SSE Energy Solutions, “BUS2GRID Project: Smart Electrification for Electric Bus Fleets,” https://www.sseenergysolutions.co.uk/file/bus2grid-brochure.

[4] T. McGrath, L. Blades, J. Early, and A. Harris, “UK Battery Electric Bus Operation: Examining Battery Degradation, Carbon Emissions and Cost,” Transportation Research Part D: Transport and Environment 109 (August 2022), https://doi.org/10.1016/j.trd.2022.103373.

[5] J. A. Manzolli, J. P. F. Trovão, and C. Henggeler Antunes, “Electric Bus Coordinated Charging Strategy Considering V2G and Battery Degradation,” Energy 254, Part A (September 2022), https://doi.org/10.1016/j.energy.2022.124252.

[6] Manzolli, Trovão, and Henggeler Antunes, “Optimisation of an Electric Bus Charging Strategy Considering a Semi-Empirical Battery Degradation Model and Weather Conditions,” 2022 11th International Conference on Control, Automation and Information Sciences (ICCAIS), Hanoi, Vietnam (2022): 298–303, https://doi.org/10.1109/ICCAIS56082.2022.9990180.

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Applications for SRG and SLI to be Accepted from May 2023

April 7, 2023

The Sylff Association secretariat is pleased to announce that eligible fellows will be able to apply for two Sylff Support Programs beginning in May 2023.

Sylff Research Grant (SRG) provides financial assistance to help doctoral students and postdoc researchers advance their academic careers, while Sylff Leaders Initiatives (SLI) supports fellows seeking to contribute to the betterment of society by organizing social projects and forums.

The start of these two programs in fiscal 2023 is intended to broaden fellows’ opportunities for both academic advancement and social engagement.

The official call for applications will be made in May, but information about the two programs is available now on their respective web pages:

SRG: https://www.sylff.org/support_programs/srg/
SLI: https://www.sylff.org/support_programs/sli/

Be sure to check the Sylff website and newsletter for the official announcement of the program’s launch.

Please note that the Sylff Association secretariat is unable to answer questions about eligibility, application procedures, application documents, and other details of SRG and SLI until their official launch in May 2023.

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Breathing Practices and Mental Health

March 23, 2023
By 29992

A 2021 Sylff fellow, Guy Fincham is a researcher and teacher of breathwork. While interest in breathing techniques has surged, Fincham cautions that there may be a mismatch between hype and evidence. He thus conducted a meta-analysis examining the effect of breathwork on stress, anxiety, and depression and hopes that the preliminary evidence paves the way for further research. Fincham also discusses the “Train over Plane” travel fund that he used to attend a conference in the Netherlands.

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Recent Publication

I am very pleased to share that the first paper from my PhD work (wholly funded by Sylff) has been published in the Nature Portfolio journal Scientific Reports. The paper is titled “Effect of Breathwork on Stress and Mental Health: A Meta-Analysis of Randomised-Controlled Trials” (nature.com/articles/s41598-022-27247-y).

Our publication in Nature’s Sci Rep.


Our meta-analysis on breathwork and mental health has received huge public interest so far, with nearly one million views of my tweet sharing it! According to Almetric, a platform that measures the attention that research outputs receive, our paper has done particularly well among the over 23 million research outputs across all sources that it has tracked to date, placing in the 99th percentile. In other words, it is in the top 5% of all research outputs ever tracked by Altmetric. Dr. Andrew D. Huberman, professor of neurobiology at Stanford School of Medicine and an inspiration of mine, even congratulated us on our work, though I had to reply saying that I am not a doctor just yet (currently being in my second year)!

Exposure of our publication on social media.(1)

Exposure of our publication on social media.(2)


Breathwork has received an unprecedented surge in public interest, and breathing practices may improve mental health. Breathwork techniques have emerged worldwide with complex historical roots from various traditions including, but certainly not limited to, Hinduism (Yoga and pranayama—where prana means “vital energy” or “life force” and ayama means “regulation” or “control”), Buddhism, Sufism, Shamanism, and psychedelic communities, along with scientific and medical researchers and practitioners.

More accessible approaches are needed to reduce or build resilience to stress worldwide, made even more evident by the COVID-19 pandemic. But while breathwork has become increasingly popular in the West owing to its therapeutic potential, there also remains the possibility of a mismatch between hype and evidence.

Accordingly, we examined whether breathwork interventions were associated with lower levels of self‐reported or subjective stress (classed as our primary outcome) and anxiety and depression (classed as secondary outcomes) compared to non-breathwork control groups. We searched seven databases, including two trial registers. The primary outcome of subjective stress included 12 randomized‐controlled trials (RCTs). Most studies were deemed to be at moderate risk of bias. The secondary outcomes of subjective anxiety and depressive symptoms comprised 20 and 18 RCTs, respectively.

The meta-analyses yielded significant small to medium mean effect sizes, showing that breathwork was associated with lower levels of subjective stress, anxiety, and depression than non-breathwork control groups. Our results thus showed that breathwork may have efficacy for improving stress and mental health. We urge caution, however, and advocate for nuanced research approaches with low risk‐of‐bias study designs to avoid a miscalibration between hype and evidence.

A key limitation of our meta-analysis was that, given the small sample size—likely due to the relative recency of the phenomenon of breathwork in the West—paired with a moderate risk of bias across included RCTs, the results should be interpreted very cautiously and not be extrapolated. Breathwork may help some but not others.

Nonetheless, breathwork could at least be part of the solution to meeting the need for more accessible therapeutic behavioral approaches to improving mental health. But again, more robust, well-designed studies are now needed to ensure that such recommendations are grounded in research evidence.

Public interest in and research on meditation has surged over recent decades. We may be at a similar cusp with breathwork and anticipate considerable growth in the field. Given the close ties of breathwork to psychedelic research, this could further accelerate growth. The scientific research community can build on the preliminary evidence provided here and thus potentially pave the way for effective integration of breathwork into public health.

The vast majority of my time spent as a first-year PhD candidate was devoted to this research project. I would like to thank my colleagues and collaborators at the University of Sussex and University of Oxford, along with the editor and reviewers at Scientific Reports for improving our work. Lastly, this research would not have been possible if it was not for the Sylff Association. I hope that this is only the beginning.

I am launching some of my own empirical breathwork studies soon with the Psychology and Medical Schools here at Sussex and with the University of California San Francisco (UCSF). I am also writing a physiologically oriented review with the Brighton and Sussex Medical School, and I am a co-investigator on The Breathwork Survey, launched by the Centre for Psychedelic Research at Imperial College London.

 

Train over Plane, Psychedelic Breathwork, and ICPR 2022

In late 2022 I traveled to Amsterdam and Haarlem in the Netherlands for ICPR 2022 (Interdisciplinary Conference on Psychedelic Research), primarily for a workshop the day before on breathwork, my research focus (Breathwork as Psychedelic Therapy).

As part of its green commitment, the University of Sussex School of Psychology has launched a new “Train over Plane” travel fund, which supports travel to conferences by train instead of plane. As a doctoral researcher I was fortunately one of the first to try it out, so I share my thoughts below on my experience with the trip I made to the Netherlands.

I had a profound experience that I could never have imagined or expected from breathwork (and so much more). I have undergone a personal paradigm shift and have gained an newfound respect for the therapeutic potential of breathwork as and for psychedelic therapy. The experience was invaluable and has made me view psychedelic breathwork under a new lens, which will benefit my future research and work.

Moreover, I connected with researchers and clinicians, some of whom were very interested in The Breathwork Survey that I am working on with the Psychedelic Research Group at Imperial College London. I had a lot of fun and had some lovely down regulation time the day after it had all finished.

Brussels after riding the Eurostar for my first time.

 

I wanted to use the Train over Plane fund because train is my favorite form of transport by far and is fortunately more eco-friendly than flying, saving up to 90% in carbon emissions. I had never been on Eurostar before so was glad to find out that it travels to Amsterdam. For the first journey I changed trains at Brussels, and the return leg was direct. Another great thing is that trains between Brighton and London St. Pancras International are direct.

Although the journeys took around two working days (one there and one back), I particularly enjoyed the comfort of traveling by train compared with flying, feeling much less restricted and freer. I also made friends with a lecturer at Kings College London on their way to a conference in Utrecht. I would encourage everyone at the Sussex School of Psychology to use the Train over Plane fund if traveling within the UK or mainland Europe.

I am now looking forward to ICPR 2024 . Hopefully there will be some research being presented on breathwork next time (my meta-analysis)! I would like to thank the Open Foundation and Open Up for organizing the ICPR conference and (breath)workshop, respectively; Sylff once again for funding me and making all this possible; my supervisors Kate Cavanagh and Clara Strauss for giving me their advice; Charlotte Rae and Harry Lewis for setting up the Train over Plane fund; and Mitzi Tahsin and Fran Barnard for assisting me when booking through the Key Travel platform.

Yes, that is me in the photos here (including my brain while doing breathwork in the MRI scanner at Sussex)!

Most importantly, thank YOU for reading (and breathing)!

 

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Sylff@Tokyo: Colmex Fellow Analyzing the Zainichi Experience

February 8, 2023

Andrea Chapela, a writer and 2021–22 Sylff fellowship recipient at El Colegio de Mexico, visited the Sylff Association secretariat in Tokyo on December 14, 2022. She is currently enrolled in a master’s degree program in Japanese studies to explore the Zainichi experience in the novels of the Japanese-Korean writer, Lee Yangji.

Andrea Chapela (second from right), flanked by (from left) program officer Yue Zhang, director Keita Sugai, and program officer Maki Shimada.

Chapela has a unique background, having studied chemistry at the National Autonomous University of Mexico before earning an MFA in creative writing from the University of Iowa. She is multilingual, being conversant in Spanish, English, German, and French, and is also an award-winning writer, having published several books in the categories of fantasy and science fiction.

She received the Gilberto Owen National Literature Prize in 2018, the National Juan José Arreola Literature Prize in 2019, and the National Joven José Luis Martínez Essay Prize in 2019.

She was in Tokyo in December 2022 to conduct research on the work of Lee Yangji, who won the 100th Akutagawa Prize for her novel, Yuhi (Sunset). Chapela is analyzing 4 of Lee’s 10 novels on the topic of conflict of identity as a second-generation Zainichi (literally, “foreign residents” but usually referring to ethnic Koreans remaining in Japan after World War II and their descendants). Her research looks not only at the history of the Zainichi but also their literary works and the inclusion of Korean linguistic elements into the Japanese language.

We thank Chapela for visiting the Foundation during her stay in Tokyo and sharing news of her research. We wish her continued success in her academic and literary endeavors.