Optimizing public investments: A Sustainable Economic, Environmental, and Social Investment Multi-criteria Decision Model (SEESIM)

Abstract

One of the most important aspects for the economic and social growth of a country is high efficiency of public investments. This imperative has never been more critical, especially in the context of Europe and Italy, where the integration of environmental, economic, and social goals is essential to address the multifaceted challenges of the 21st century. This research introduces the Sustainable Economic, Environmental, and Social Investment Model (SEESIM), a novel multi-criteria decision-making framework designed to ensure the sustainability of projects as their validity over time, especially from a National Recovery and Resilience Plan perspective. Utilizing the Analytic Hierarchy Process (AHP), SEESIM integrates environmental, economic, and social criteria as useful tool to evaluate a project in the post-funding phase, ensuring a balanced approach to efficiency and sustainability. The model is adaptable to various regional contexts, providing a transparent and replicable methodology for assessing the impacts and costs of public investments. An experimental scenario demonstrates SEESIM’s utility in guiding investment decisions, highlighting its potential to significantly enhance the effectiveness of public resources in achieving long-term sustainability goals. SEESIM represents a pivotal advancement in sustainable development strategies, offering a comprehensive tool for integrating multi-dimensional sustainability criteria into public investment decisions.