Sustainable Finance Role in Creating Conditions for Sustainable Economic Growth and Development

Zioło, Magdalena; Fidanoski, Filip; Simeonovski, Kiril; Filipovski, Vladimir; Jovanovska, Katerina

doi:10.1007/978-3-319-45081-0_11

Cited by 20 publications

(26 citation statements)

References 46 publications

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“…The changes in the area of the green growth require support from legal and fiscal solutions. In the literature, this area is defined as sustainable finance (Ziolo et al, 2016). Research into the relationship between green growth, sustainable development and sustainable finance is an important direction of further economic research and analysis.…”

Section: Discussionmentioning

confidence: 99%

A new approach to the study of similarity structurein the area of green growth in OECD countries

Bąk¹,

Cheba²,

Zioło³

2019

Economic Science for Rural Development

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The aim of the study is an assessment of current level of development in the green growth area of the OECD countries. For this purpose, the seven main indicators characterized the green growth in 2004 and 2015 were utilized. To identify the relations between them, the multi-dimensional correspondence analysis with the complex matrix of markers was used. The main advantage of this method is possibility to implement division into groups of OECD countries taking into account the level of each of analysed indicators, not only a mean level of development in this area. In the paper, the OECD countries were separated into four groups with different level of development in the green growth area. The results of the study confirmed visible changes in the area of the green growth in 2004 and 2015 for the majority of countries. There are also visible changes between these years.

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Section: Discussionmentioning

confidence: 99%

A new approach to the study of similarity structurein the area of green growth in OECD countries

Bąk¹,

Cheba²,

Zioło³

2019

Economic Science for Rural Development

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“…This variable tells how much output the use of energy generates, or in other words, what the price of converting energy into output is. It has previously been employed in empirical studies on sustainability, such as in [15] where the measure is used as a proxy for environment in a study of sustainable economic development. We calculate this variable using the formula…”

Section: Data and Variablesmentioning

confidence: 99%

Energy Efficiency in OECD Countries: A DEA Approach

2021

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This paper deals with energy efficiency examined through an integrated model that links energy with environment, technology, and urbanisation as related areas. Our main goal is to discover how efficiently developed countries use primary energy and electricity (secondary energy). We additionally want to find out how the inclusion of environmental care and renewable energy capacity affects efficiency. For that purpose, we set up an output-oriented BCC data envelopment analysis that employs a set of input variables with non-negative values to calculate the efficiency scores on minimising energy use and losses as well as environmental emissions for a sample of 30 OECD member states during the period from 2001 to 2018. We develop a couple of baseline models in which we find that countries have mean inefficiency margins of 16.1% for primary energy and from 10.8 to 13.5% for electricity. The results from the extended models show that taking care about environment does not affect efficiency in general, while the reliance on energy produced from renewable sources does slightly reduce it.

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“…Furthermore, the financial instruments and market structures that allocate capital should be provided in such a way as to maximize the overall social return adjusted for financial and non-financial risks. Therefore, these instruments and structures should consider issues such as the environmental and social responsibility of the entities that seek to obtain financing ( [31]).…”

Section: Sustainable Finance 221 Relevance Of Sustainable Financementioning

confidence: 99%

Circular Economy and Value Creation: Sustainable Finance with a Real Options Approach

2021

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This paper presents a methodological proposal that integrates the circular economy concept and financial valuation through real options analysis. The Value Hill model of a circular economy provides a representation of the course followed by the value of an asset. Specifically, after the primary use, the life of an asset may be extended by going through four phases: the 4R phases (Reuse, Refurbish, Remanufacture and Recycle). Financial valuation allows us to quantify value creation from firms’ asset circularity under uncertainty, modelled by binomial trees. Furthermore, the 4R phases are valued as real options by applying no-arbitrage opportunity arguments. The major contribution of this paper is to provide a quantitative approach to the value of circularity in a general context that is adaptable to firms’ specific situations. This approach is also useful for translating relevant information for stakeholders and policy makers into something with economic and financial value.

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Sustainable Finance Role in Creating Conditions for Sustainable Economic Growth and Development

Cited by 20 publications

References 46 publications

A new approach to the study of similarity structurein the area of green growth in OECD countries

A new approach to the study of similarity structurein the area of green growth in OECD countries

Energy Efficiency in OECD Countries: A DEA Approach

Circular Economy and Value Creation: Sustainable Finance with a Real Options Approach

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