Assessing the economic efficiency of green investments in the context of sustainable development of the territory

IF 5.5 Q1 BUSINESS, FINANCE Green Finance Pub Date : 2023-01-01 DOI:10.3934/gf.2023014
V. Kurdyukov, Alla M. Ovcharenko
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Abstract

This article proposes theoretical and analytical foundations for the economic assessment of the results of green investments in terms of promoting territorial sustainability. The green investments are presented as resources aimed at reducing the economic damage from environmental pollution through the creation of conditions or direct impact activities. However, the discounting application distorts their significance. The result of real green investment is capital, which is often specific and difficult to assess. It distinguishes them markedly from other investments. Green investments do not require directive advantages, such as a social discount rate. It is necessary to address the results of green investment in terms of their value for the sustainability of socio-economic systems. The accounting of total costs and results for the system when making decisions will allow for reducing territorial exploitation by social groups. Overcoming the discounting contradictions while assessing the economic effectiveness of green investments requires improving the adequacy of green investments results' evaluation in terms of the territory's sustainability transition, the differentiation of discount rates for various results, their costs and the years of their appearance and the use of compounding to assess the accumulation of the total result of a project based on the analysis of its entire life cycle. The study proposes a system for assessing the economic value of the growth of an ecosystem's assimilation potential and the consequences of its decline in relation to the costs of building the assimilation potential, the increase in the maximum allowable load on the ecosystem and the environmental pollution damage. To estimate the economic effect of the growth of an ecosystem's assimilation potential, it is necessary to consider the rate of return for its owner. The results of this study will allow for reducing the assessment distortions and informational limitations of the managerial decision-making process.
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在香港可持续发展的背景下,评估绿色投资的经济效益
本文从促进区域可持续性的角度出发,为绿色投资成果的经济评价提供了理论和分析基础。绿色投资被描述为旨在通过创造条件或直接影响活动减少环境污染造成的经济损失的资源。然而,贴现应用扭曲了它们的重要性。真正的绿色投资的结果是资本,这往往是具体的和难以评估的。这使它们与其他投资明显不同。绿色投资不需要指导性优势,比如社会贴现率。必须根据绿色投资对社会经济系统的可持续性的价值来处理绿色投资的结果。在作出决定时对系统的总成本和结果进行核算,将有助于减少社会群体对领土的剥削。在评估绿色投资的经济效益时,要克服贴现矛盾,需要提高绿色投资结果评估的充分性,包括区域可持续性转型、各种结果的贴现率、成本和出现年份的差异,以及在分析项目全生命周期的基础上,使用复利法评估项目总结果的累积。该研究提出了一个系统,用于评估生态系统同化潜力增长的经济价值及其下降的后果,这与建立同化潜力的成本、生态系统最大允许负荷的增加和环境污染损害有关。为了估计生态系统同化潜力增长的经济效应,有必要考虑其所有者的回报率。这项研究的结果将有助于减少管理决策过程的评估扭曲和信息限制。
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来源期刊
Green Finance
Green Finance Multiple-
CiteScore
9.60
自引率
3.50%
发文量
14
审稿时长
6 weeks
期刊介绍: Green Finance is an international, interdisciplinary Open Access journal dedicated to green finance, environmental, and sustainability research and practice. It offers a platform for publishing original contributions and technical reviews on green finance and related topics, following a rigorous peer-review process. Accepted article types include original research, reviews, editorials, letters, and conference reports.
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