The Role of FDI in the Sustainable Development of the European Union

J. Witkowska
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Abstract

This paper aims to examine the role of international business behavior in the sustainable development of the European Union (EU) and to answer two questions: (1) To what degree could international business contribute to the development of a “green economy” under the uncertainty caused by the COVID–19 pandemic?; (2) In what way could host countries attract “green” and socially responsible foreign direct investment (FDI)? The statistical analysis of international business involvement in environmentally harmful sectors/industries of the EU economy indicates that the share of such investments in most member states did not exceed 20% of the total FDI stocks between 2015 and 2020. The structure of investments changed in half of the analyzed countries towards sectors/industries that were less harmful to the environment. These changes and high requirements for domestic and foreign companies within the framework of the EU’s environmental policy allow us to conclude that international business contributed to the ecological transformation of the EU. On the other hand, changes in the structure of FDI stocks located abroad by the EU Member States in environmentally harmful sectors/industries were multidirectional. Six of the EU states remained net exporters of direct investment in these sectors/industries. The involvement of foreign direct investors in the new EU Member States in sectors that are important for implementing the Sustainable Development Goals (SDGs) of the 2030 Agenda was not very high. It was characterized by high volatility and did not play a significant role in their economies. Attracting “green FDI” and socially responsible investments requires changes in policy towards foreign investors. They should include facilitating foreign investment, including investments aimed at sustainable development, incentives for investors to engage in “green investments”, and making investment agreements more flexible to combat climate change.
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外国直接投资在欧盟可持续发展中的作用
本文旨在考察国际商业行为在欧盟可持续发展中的作用,并回答两个问题:(1)在COVID-19大流行造成的不确定性下,国际商业对“绿色经济”发展的贡献程度如何?(2)东道国如何吸引“绿色”和对社会负责的外国直接投资?对欧盟经济中环境有害部门/行业的国际商业参与的统计分析表明,2015年至2020年期间,大多数成员国的此类投资份额不超过FDI总存量的20%。在所分析的国家中,有一半国家的投资结构发生了变化,转向对环境危害较小的部门/工业。这些变化和欧盟环境政策框架内对国内外公司的高要求使我们得出结论,国际商业促进了欧盟的生态转型。另一方面,欧盟成员国在对环境有害的部门/工业的国外外国直接投资存量结构的变化是多向的。6个欧盟国家仍然是这些部门/行业直接投资的净出口国。新欧盟成员国的外国直接投资者参与对实施2030年可持续发展目标(SDGs)至关重要的部门的程度并不高。它的特点是高度波动,在它们的经济中没有发挥重要作用。吸引“绿色外国直接投资”和社会责任投资需要改变对外国投资者的政策。它们应该包括促进外国投资,包括旨在可持续发展的投资,鼓励投资者参与“绿色投资”,以及使投资协议更加灵活以应对气候变化。
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来源期刊
CiteScore
1.30
自引率
0.00%
发文量
26
审稿时长
16 weeks
期刊最新文献
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