Energy consumption in public buildings increased drastically over the last decade. Significant policy actions towards the promotion of energy efficiency in the building sector have been developed involving sustainable low-CO₂-emission technologies. This paper presents the results of an economic–environmental valuation of a standard energy retrofit project for a public building in a Mediterranean area, integrating a life-cycle assessment (LCA) into the traditional economic–financial evaluation pattern. The study results show that simple retrofit of sustainable low-CO₂-emission strategies such as wooden double-glazed windows, organic external wall insulation systems, and green roofs can reduce energy needs for heating and cooling by 58.5% and 33.4%, respectively. Furthermore, the implementation of an LCA highlights that the use of sustainable materials reduces the building’s carbon footprint index by 54.1% after retrofit compared to standard materials, thus providing an additional increase in the socio-environmental–economic–financial results of 18%. Some proposals are made about the accounting of the replacement costs and the residual value as requested in the logic of life-cycle cost (that is the economic extension of the LCA), namely concerning the method to take into account the replacement costs and the residual value. The economic calculation highlights the fundamental role played by tax benefits supporting the building energy retrofit, also in temperate climate zones, thus allowing the creation of environmental benefits in addition to remarkable cost savings.

The paper addresses an important long-standing question in regards to the energy efficiency renovation of existing buildings, in this case hotels, towards nearly zero-energy (nZEBs) status. The renovation of existing hotels to achieve a nearly zero-energy (nZEBs) performance is one of the forefront goals of EU’s energy policy for 2050. The achievement of nZEBs target for hotels is necessary not only to comply with changing regulations and legislations, but also to foster competitiveness to secure new funding. Indeed, the nZEB hotel status allows for the reduction of operating costs and the increase of energy security, meeting the market and guests’ expectations. Actually, there is not a set national value of nZEBs for hotels to be attained, despite the fact that hotels are among the most energy-intensive buildings. This paper presents the case study of the energy retrofit of an existing historical hotel located in southern Italy (Syracuse) in order to achieve nZEBs status. Starting from the energy audit, the paper proposes a step-by-step approach to nZEBs performance, with a perspective on the costs, in order to identify the most effective energy solutions. Such an approach allows useful insights regarding energy and economic–financial strategies for achieving nZEBs standards to highlighted. Moreover, the results of this paper provide, to stakeholders, useful information for quantifying the technical convenience and economic profitability to reach an nZEBs target in order to prevent the expenses necessary by future energy retrofit programs.

Real estate capital is in constant competition with other capital assets due to its different and complementary economic functions such as direct use, productive investment, and speculative investment. These features and the resulting opportunities cannot be easily deduced from direct observation of the real estate markets, so some further insights need to be carried out in order to highlight the relationship between prices, rents and performances. This study aims at providing a multifaceted perspective of a specific urban real estate market to overcome the difficulties arising from opacities and informative asymmetries that hinder the decision of investors, by facilitating the comparison of different options such as capital value, income and performance. Within the mass appraisal approach, the study proposes a methodology for the analysis of the cap rate, intended as the expression of profitability and liquidity of the urban real estate capital asset. The methodology is based on a detailed survey of a sample of the housing market data, collected within a structured database, supported by statistical and territorial analyses of the sample, in order to display the range of cap rates featuring each sub-market, and the related distributions. The methodology is applied to a case study of nearly 1000 properties distributed in a vast urban area of the municipality of Palermo, Italy. The consistency of the relationships between the three variables has been tested with reference to two hypotheses about the sub-market definition, which has been carried out by cluster and by neighbourhood.

The issue of climate has posed major and urgent challenges for the global community. The European Green Deal sets out a new growth strategy aimed at turning the European Union into a just and prosperous society, with a modern, resource-efficient, and competitive economy, which will no longer generate net greenhouse gas emissions by 2050. Cities in this context are committed on several fronts to rapid adaptation to improve their resilience capacity. The historic centre is the most vulnerable part of a city, with a reduced capacity for adaptation, but also the densest of values, which increase the complexity of the challenge. This study proposes an integrated tool, Heuristic Planning Support System (HPSS), aimed at exploring green-blue strategies for the historic centre. The tool is integrated with classic Planning Support System (PSS), a decision process conducted from the perspective of heuristic approach and Geographic Information System (GIS). It comprises modules for technical assessment, environmental assessment Life Cycle Assessment (LCA), economic assessment Life Cycle Cost (LCC), Life Cycle Revenues (LCR), and Discounted Cash Flow Analysis (DCFA) extended to the life cycle of specific interventions, the Multi-Attribute Value Theory (MAVT) for the assessment of energy, environmental, identity, landscape, and economic values. The development of a tool to support the ecological transition of historic centres stems from the initiative of researchers at the University of Catania, who developed it based on the preferences expressed by a group of decision makers, that is, a group of local administrators, scholars, and professionals. The proposed tool supports the exploration of green-blue strategies identified by decision makers and the development of the plan for the historic district of Borgata di Santa Lucia in Syracuse.

Although floods, as well as other natural disasters, can be considered as relevant causes of intra-generational inequalities, frequent catastrophes and the resulting damage to the territory can be seen as a consequence of a generalized indifference about future. Land protection is one of the societal issues typically concerning inter-generational solidarity, involving the administrative system in the implementation of proactive policies. In the last three decades, the widespread demand for subsidiarity has made local communities more and more independent, so that attention to the long-term effects—typically concerning the territorial system as a whole at geographical scale—has been dispersed, and the proactive policies that come from the central government have become more ineffective. Regarding the case of the 2009 flood in the Fiumedinisi-Capo Peloro river basin in North Eastern Sicily, we propose an economic valuation of the land protection policy. This valuation, compared to the cost of recovery of the damaged areas, can provide helpful information on the decision-making process concerning the trade-off between reactive and proactive land policy. The economic value of land protection was calculated by means of the method of the imputed preferences, to obtain a real measure of the social territorial value from the point of view of the harmony between social system and environment. This method consists of an estimate based on the attribution of the expenditures according to the importance of the different areas. Since the value of land protection has been calculated by discounting the expenditures stream, some considerations about the economic significance of the proactive policy are referred to the role played by the social discount rate in the inter-temporal economic calculation.

In recent years, the scientific interest for the economic and landscape impact of wind farms has increased. This paper presents a useful GIS tool that allows for helping policymakers and investors to identify promising areas for wind power generation as well as landscape impact and financial and economic sustainability of wind farms. The results of the research carried out for exploring the potential for wind energy in two territorial contexts of Sicily region are presented with the particular look at the possibilities of economic developing, stakeholders’ opportunities and obstacles in the policy, legal, and regulatory framework.