Approaches to the Assessment of Environmental Risks of Investment Activity

Abstract

The article discusses the impact of environmental risks on the results of investment activities. The initial premise of the study uses an ESG approach to the management of investment and construction activities, which takes into account the influence of environmental and social factors on the effectiveness of investments and recognized by researchers as the most relevant to the current stage of economic development. The urgency of the problem is determined by the need to include environmental and social factors in the process of making investment decisions to reduce the impact of project risks. The purpose of the study was to identify such approaches to the ecological and economic assessment of investments that allow taking into account the environmental component when determining the required amount of one-time and current costs. Also provide information to solve the problem of choosing «prevention or elimination» of the consequences of the influence of negative environmental factors. It is shown that one of the problems of environmental risk assessment is an unfavorable «risk — return ratio». This is the basis for making investment decisions in a risk environment. Getting any type of effect from a project (financial, social, general economic) is always associated with uncertainty. The possibility of setting a task in relation to environmental risks as a comparison of the costs of liquidation or prevention of damage is substantiated. The authors analyzed the general trends in the direction of investments in environmental protection measures at the regional level. An example of calculating the cost of compensation for damage from land pollution is given.