Ecological Investment Research Articles

INVESTMENT IN THE DEVELOPMENT OF AGRICULTURE

The article is dedicated to exploring the state of investment activity in the agricultural sector of the Ukrainian economy. The article analyzes trends in attracting investment resources by types of economic activity from 2018 to 2022. It is determined that investments in agriculture occupy a significant share in the overall structure of capital investments. The growth of investment resources in agriculture over five years (2018–2022) amounted to 3.8 billion UAH or 5.9%. In 2023, specialists in demining surveyed 274 thousand hectares of agricultural land in Ukraine, and already 208 thousand hectares were transferred to the agricultural sector for use. The main directions of investment in agriculture were also identified, including technology modernization, infrastructure development, crop production, livestock development, ecological investments, support for small farms, and the development of agritourism.

Coordinated development of China's eco-investing and circular economy coupling based on CRITIC algorithm

Green Investment (GI) is a financial form of Sustainable Development (SD), which can effectively promote SD. Its development concept, strategy, products and services are in line with the development concept of Circular Economy (CE), which is the development trend of commercial banks and other financial institutions in the future. This paper aimed to promote the efficient use of resources, reduce environmental pollution, improve the health of the ecosystem, provide a better ecological environment for people, and promote sustainable development by integrating ecological investment and circular economy. The development of GI and CE is of great significance for environmental protection, energy conservation and emission reduction, coordination of economy, society, resources, and environment, and it is also a need to promote the development of financial institutions themselves. Based on the research results of GI and CE, this paper analyzed the coupling development of local GI and CE in the eastern, central and western regions by using EM, CRITIC (Criterion Importance Through Intercritical Correlation) method, coupling model, panel data and other methods. It also provided suggestions on the policy of the coupling development of GI and CE in the eastern, central and western regions. This paper started with the relevant economic variables of each year, established the measurement indicators of GI and CE, comprehensively evaluated them using EM, and then studied them using comprehensive evaluation system. The development index of CE in 2020 was 0.3806, but its score in ecological environment was higher than that in 2019. This paper summarized the current development of CE, which can provide experience support and reference for provincial governments in formulating SD strategies and exploring SD paths.

Ecological investments as a factor of sustainable development of the fuel and energy complex of the regional economic system

Ecological investments as a factor of sustainable development of the fuel and energy complex of the regional economic system

Конституционализация природоохранных отношений в России: становление и развитие

Introduction: The formation and development of constitutional norms of the protection of nature and the environment is an important condition for creating the favorable environment in the interests of present and future generations. An analysis of the evolution of this process will allow us to trace legal trends in this area and further prospects for constitutionalization of environmental relations. Theoretical analysis. The analysis of the genesis of constitutionalization of environmental relations in Russia has shown that this process has followed the path of recognition of environmental human rights and establishment of environmental responsibilities, which is an important constitutional and legal security measure aimed at creating the favorable environment, ensuring environmental rights of citizens, and acts as an indicator demonstrating the willingness of the state to ensure environmental safety of Russia. Empirical analysis. The development of the process of constitutionalization of environmental relations in Russia is carried out, among other things, through amendments to the Constitution of the Russian Federation. It is concluded that these amendments will not have an immediate positive effect, but they are still a positive trend towards constitutionalization of environmental relations, an “ecological investment in the future”, aimed at forming ecological culture, consolidating positive environmental traditions. Conclusion. Despite the existence of constitutional provisions for environmental protection and a large body of environmental legislation formed on the basis of constitutional prescriptions, Russia has not been able to solve environmental problems so far. Therefore, it is concluded that Russia, despite the legal evolution of environmental relations to the extent of their constitutionalization, cannot yet be called an “ecological state”, since an effective ecological and legal mechanism for implementing constitutional requirements in this area must be created for this purpose.

Стратегія розвитку екологічного інвестування в Україні

The article clarifies the essence of the concept of "strategy", namely: strategy is a sequence of actions and decisions taken by the organizer of the process, which lead to the development of a specific strategy (for example, development) designed to help achieve its goals and mission. The definition of ecological ("green") investments is proposed, which includes all types of property and intellectual values that are invested in: informational, organizational, practical, commercial, marketing and economic measures that relate to the harmonization of human relations and the natural environment; environmentally friendly production and consumption; research works on the development of environmentally friendly equipment and technologies; environmental protection measures (prevention, limitation and control of harmful emissions and discharges, elimination of pollution and restoration of the environment); projects of efficient energy consumption; development of renewable energy sources; climate change management; waste management; optimal use and economic involvement of natural resources in economic activities and as a result of which profit (income) is generated and/or social and environmental effects are achieved. To achieve the goal, the research methodology used in this article includes the following stages: information provision of the strategy for the development of ecological investment in the country; establishing the mission and goals of the strategy for the development of ecological investment in the country; diagnosing the potential of investment and innovation activities in the country; forecasting the conditions of environmental investment in the country, which involves the identification of opportunities and threats; development of a strategy for the development of ecological investment in the country; evaluation of the chosen strategy; formation of a target program for the development of ecological investment in the country. A list of measures of the target program for the development of ecological investment in the country has been developed, which may involve attracting capital investments at all stages of production.

Do green finance, low‐carbon energy transition, and economic growth help in environmental investment?: Empirical evidence from emerging economies in Asia

Environmentally friendly initiatives and green financing are needed to reduce pollution and transition to a low‐carbon energy system. This research was conducted to assess the efficacy of green bond financing for scaling up environmentally responsible investment in preparation for the low‐carbon energy transition in emerging Asian economies. The generalized method of moment's methodology is used to examine the impact of green finance, CO2 emission, and economic growth on the environmental investment of emerging nations over the period 2000–2021. The result showed that all these factors contribute significantly to environmental investment. In addition, the results showed that the burdens of global warming are achievable to alleviate through green bonds for the optimum transition to low‐carbon energy. Moreover, these economies have enacted measures to assist them in becoming green and encourage green initiatives, which function harmoniously with each other and have decreased carbon emissions, leading to the possible adaptation of green environmental investment sources. Hence, it is recommended that these economies boost their green financing activities, low‐carbon emissions, and economic development so that eco‐innovation and ecological investment can be made properly.

СУБ’ЄКТИ ПУБЛІЧНОЇ АДМІНІСТРАЦІЇ, ЯКІ ЗДІЙСНЮЮТЬ АДМІНІСТРАТИВНО-ПРАВОВЕ РЕГУЛЮВАННЯ В СФЕРІ ТВАРИННОГО СВІТУ

This article discloses the system of subjects of public administration that carry out administrative and legal regulation in the field of the animal world. The author determined that the subjects of legal regulation in the field of the animal world are a system of state and non-state bodies that are endowed with state-authority powers (or such powers are delegated to them) and are authorized to apply organizational, economic, and legal measures for the protection, use, and restoration of the animal world . State management and regulation in the field of protection, use and reproduction of the animal world is carried out by the Verkhovna Rada of Ukraine, the President of Ukraine, the Cabinet of Ministers of Ukraine, the Council of Ministers of the Autonomous Republic of Crimea, local state administrations, authorized central executive bodies in the field of protection, use and reproduction of the animal world, which include the central body of executive power that ensures the formation of state policy in the field of environmental protection, the central body of executive power that implements state policy in the field of environmental protection, the central body of executive power that implements state policy in the field of state supervision ( control) in the field of environmental protection, rational use, reproduction and protection of natural resources, the central body of executive power implementing state policy in the field of forestry and hunting, the central body of educational authorities implementing state policy in the field of fisheries, other authorized bodies of executive power in accordance with their powers and local self-government bodies. The largest number of subjects of legal regulation of the animal world belongs to the bodies of the executive power: the Cabinet of Ministers of Ukraine; Ministry of Ecology and Natural Resources of Ukraine; State Environmental Inspection of Ukraine; State Agency of Fisheries of Ukraine, State Agency of Forestry of Ukraine, State Agency of Ecological Investments of Ukraine.

Ecological Tourism as One of the Priority Directions of Ecological Investment: Assessment of Opportunities and Prospects for the Economic Security of the Region

The development of various areas of domestic tourism in Russia has become a natural consequence of the restrictions imposed during the COVID-19 pandemic. At the same time, in the context of maintaining and increasing the relevance of environmental restrictions on economic development, the growth of ecological (or sustainable) tourism, associated with the provision of tourism services and the development of the recreational sector, and at the same time helping to reduce the severity of the environmental problem, is of particular importance. Ecotourism, being a promising economic direction, contributes to the achievement of sustainable development. Of considerable scientific interest is the study of the prospects for the development of ecological tourism at the regional level. The subject of research in the article is the possibility of developing ecological tourism in the Republic of Mordovia. The article concluded that the functioning of the tourism industry, contributing to economic growth, has a serious negative impact on the environment. As a consequence, tourism policies need to be integrated with overall economic, environmental and energy policies in order to stimulate the transition to sustainable tourism development and minimize environmental pollution. Politicians are also guided by the Sustainable Development Goals, the achievement of which requires the use of tourism to eliminate poverty, hunger, ensure food security and improve the environment by reducing dependence on non-renewable energy sources. The ecological sphere of the Republic of Mordovia has a serious potential for the development of the tourism sector: the presence of specially protected natural areas, clean air and water bodies can attract a large number of tourists, but significant investment resources are needed in this area.

Green Bonds as an Instrument for Financing Ecological Investments in the V4 Countries

The aim of this paper is to characterise the green bond market in the Visegrad Group of countries (V4) and to identify the determinants and benefits of issuing green bonds. The specific objective is a spatial–temporal analysis of the green bond yield in V4 countries. The following research methods were used in the paper: a source literature analysis and report analysis, statistical data analysis (from international financial markets), and the Dynamic Time Warping method (DTW). DTW comprises a class of algorithms that are used to compare both equal and unequal time series. The DTW method allows the smallest distance between two time series of different lengths to be found while allowing for the transformation over time of both series. As the method is highly efficient, it is used to provide a thorough spatial–temporal analysis of green bonds. The research process confirmed that green bonds are an instrument with potential in the global debt market. Among the most important stimulants for the issuance of green government bonds are capital mobilisation, the development of the green financial market, investor demand, and reputational benefits.

Quantitative Analysis of the Impact of Ecological Industry and Ecological Investment on the Economy: A Case Study of Beijing, China

As China attaches increasing importance to its ecological environment, ecology-related industries have become essential to China’s national economy. However, in the current national economic accounting practice, the ecological industry (eco-industry) is not independent, and the ecological service value ecology creates is currently not within the scope of national economic accounting. To clarify the impact of the development of the eco-industry on the whole regional economy, this paper takes Beijing as the study area. For the first time, the input–output analysis method is adopted to differentiate the eco-industry as an independent sector. Moreover, the ecosystem services value is integrated into the eco-industry, and each coefficient is quantitatively analyzed from an industrial-chain perspective. The results show that the eco-industry exerts a good pulling effect on the regional economy. The inputs and outputs of the eco-industry clearly tend to focus on eco-environmental and public-service-related industries, followed by industries for which ecological development can create value. Judging from the entire regional economy, ecological investment significantly impacts both the education and financial industries. Ecological investment can promote socio-economic development, achieving a 1.318 increase in regional GDP per unit of eco-investment. The results imply that the development of the eco-industry in China should be boosted further and social capital investment should be attracted. Finally, this paper provides a scientific basis for policymakers to better understand the overall situation of both the eco-industry and industry linkages and guide them to develop relevant ecological investment strategies.

Corporate Sustainability and Risk Management—The U-Shaped Relationships of Disaggregated ESG Rating Scores and Risk in the German Capital Market

This study addresses the relationship between the (dis)aggregated ESG rating and different types of risk (i.e., market risk, idiosyncratic risk, total risk) in the German stock market. We investigate not only the overall ESG rating and the E, S, and G pillar scores but also all the underlying category scores. Thereby, we provide in-depth insight into diverse CS operations. We cover 454 firm years (2012–2019) using ordinary least squares regression with firm and year fixed effects. Our main insights are the U-shaped relationships between CS and risk: Ecological investments first decrease systematic risk (beta), while overinvestment increases systematic risk again. Likewise, social investments initially decrease idiosyncratic risk, while overinvestment increases idiosyncratic risk again. Further findings suggest only one linkage between systematic risk and the social pillar score. In the category scores, a few more relevant linkages were identified, which indicates that disaggregation of the ESG ratings increases the explanatory power of models. In respect to findings from other capital markets, it appears that the effects of the ESG ratings on risk may depend on the existing level of sustainability in the capital market. Last, our study provides insights into the nonlinearity of the CS–risk relationships.

Ecological economics foundation research on ecological values, ecological asset management, and value realization: Scientific concepts, basic theories, and realization paths

Ecosystems provide various environmental conditions and natural resources for life, production, and human livelihoods. Ecosystem management based on natural laws is the basic way for human society to recognize the value of nature and ecosystems, protect and utilize the natural environment and resources, create and accumulate ecological assets, and sustainably develop. Taking that as one of the core concepts, regional ecological economics or economic ecology is becoming a frontier in scientific research to evaluate the Anthropocene earth system and sustainable development. From the perspective of macro-ecosystem science, based on the multi-functionality and multi-values of ecosystems, this study expounded the concepts of natural ecological value, ecological assets, ecological products, and some related phrases, analyzed the processes and principles of formation and change of ecological assets, production and consumption of ecological products, ecological investment, and profit and loss of ecological assets based on integrated ecology, sociology, and economics, proposed paths of regional ecological asset management and ecological value realization. It would provide theoretical and methodological references for the evaluation of regional ecosystem value and ecological assets, and the development of ecological industries and ecological value realization systems.

Enhancing China's ecological sustainability through more optimized investment

China has tremendously invested in a set of ecological sustainability programs since the late 1970 s. Although the positive ecological benefits for human well-being have dramatically increased, these large-scale investments are still confronted with some drawbacks and lack a more comprehensive and precise understanding. Here, we quantitatively presented an overall portrait of spatial distribution, temporal trends and inter-annual variations of ecological investments for ten representative programs in the period 1978–2018 from national to provincial levels. Overall, the Chinese government has invested US$197.59 billion (in 2015 US$) for all the programs in total with the top three amounts in Southwest China, North China and Northwest China. We found that the investments for all the programs had gone through a rapid increase since 2000 with a much faster growth rate in Central China and East China. At the national level, the investments of ecological sustainability programs showed good stability and continuity. However, their annual investments varied greatly among different provinces. For instance, the Shelterbelt Development Program in Five Regions including the Middle and Lower Reaches of the Yangtze River coastal areas was interrupted for more than ten years and showed weak stability in some specific provinces. It is suggested that China should adopt more optimized investment strategies in terms of distribution, stability and continuity through augmenting government funds and diversifying financial pathways for the ecological sustainability programs.

MACROECONOMIC STABILITY AND TRANSPORT COMPANIES’ SUSTAINABLE DEVELOPMENT IN THE EASTERN EUROPEAN UNION

The paper’s primary aim is to evaluate the influence of macroeconomic stability on transport companies’ sustainable development in the eastern EU from 2008 to 2019. The first part discusses the theoretical problems. The empirical part includes the methodology, results of the research and conclusions. To determine the relationship between variables, we use Pearson’s R and the Ordinary Least Square Method. The contribution to knowledge is using the pentagon of macroeconomic stability to evaluate macroeconomic stabilisation’s influence on transport companies’ sustainable development. The results indicate that macroeconomic stability is one of the essential determinants of the transport companies’ sustainable development. According to Pearson’s R, the highest level of dependence is in Slovenia (0.96), Bulgaria (0.9), and Slovenia (0.83). The lowest is in Latvia (0.69). The OLS regression results indicate that the highest significance is in Slovakia (α1 = 1.994), the lowest is in Lithuania (α1 = 0.691). The states’ economic policies should favour the freedom to conduct business, create appropriate legal regulations, and support ecological investments. It is necessary to act for a stable and fair tax system, ensure access to finance. The issue is contemporary and requires further analysis.

The Impact of Executives\u2019 Gender, Financial Incentives, and Shareholder Pressure on Corporate Social and Ecological Investments

Archival research suggests that female executives have an impact on corporate decision-making and generally finds positive associations between female board representation and Corporate Social Responsibility (CSR) performance. However, archival research does not reveal why female executives decide differently in the context of CSR. As this is our starting point, we conduct an experiment and examine executives’ decision-making in terms of CSR investment. While female executives seem to be more oriented towards social and ecological practices, we find strong evidence that participants’ real-world incentive program mainly drives their CSR decision-making. We also examine if selected gender-specific character traits (risk propensity, sustainability attitude, and empathy) cause gender differences in executives’ CSR decision-making. In an exploratory analysis, we furthermore show that executives’ risk propensity affects their CSR decision-making conditional on the level of shareholder pressure they face. Our study contributes to the literature on executives’ decision-making and to the CSR literature by enhancing our understanding of determinants of executives’ CSR decision-making.

Evaluation of Farmers satisfaction with Ecological Governance and its improvement path

As the participants and stakeholders of rural ecological governance, the evaluation of farmers’ satisfaction plays an important role in improving the performance of government ecological governance. Based on the criteria of ecological civilization construction and customer satisfaction, this paper constructs an evaluation system of farmers’ ecological governance satisfaction, which includes 34 indicators. Factor analysis is used to classify indicators, and IPA model is used to analyze the ecological governance plates that affect satisfaction. The research shows that the comprehensive satisfaction of rural ecological governance farmers in four towns of Changde City, Hunan Province is 3.6, which is basically recognized by farmers. The factors that farmers’ demand is strong but does not meet the expectations are sewage treatment, chemical fertilizer and pesticide pollution treatment, ecological legal system implementation, government investment and other indicators. The evaluation section of restriction satisfaction mainly focuses on ecological environment, institutional culture and infrastructure, and finally puts forward suggestions from three aspects: ecological environment, infrastructure and farmers’ sense of participation.

Effects of Pro-Ecological Investments on an Example of the Heating Industry—Case Study

This paper presents problems connected with the effects of pro-ecological investment on the example of the heating industry. The aim of the publication, resulting from the identified gap, is to analyze pro-ecological investments on the example of a Polish heating company—Miejska Energetyka Cieplna Ltd. in Koszalin. In particular, the pro-environmental activities in which the examined company engaged over the period 2017–2020 were analyzed. On the basis of existing models in the literature, the authors’ cause–effect model for analyzing pro-ecological investments was proposed and investments were realized by the analyzed organization using this model. Combining the presented causes and effects of ecological investments, it is possible to propose a cause–effect model of pro-ecological investments undertaken in organizations consisting of three causes and five effects. All causes that cause organizations to realize pro-ecological investments can be divided into three groups: low requirements, economical requirements, and image requirements, all of which lead to the implementation of environmental corporate social responsibility.

Współdziałanie gmin w zakresie realizacji zadań związanych z ochroną i kształtowaniem środowiska naturalnego na przykładzie Ekologicznego Związku Gmin Dorzecza Koprzywianki

The purpose of the study is to reconstruct the operating principles (legal norms) related to the system and functioning of the union of municipalities and to confirm the hypothesis on high effectiveness of environmental protection and management tasks as illustrated by the example of the Ecological Union of the Koprzywianka River Basin Municipalities. The Union has been undertaking a number of actions in the areas, such as water, land, air and landscape protection, ecology education, ecological investment fundraising and ecological investment projects. It safeguards common interests of the municipalities and enables the exchange of experience, particularly in the area of ecological measures. The Union is also responsible for initiating and supporting pro-ecological activities of particular municipalities.

Will the European Green Deal Make Agriculture More Sustainable?

The concept of sustainable agriculture involves meeting society?s current food and material needs without compromising the ability of future generations to do the same, and is a core theme of the green deal. Sustainability is closely linked to resilience, i.e. the capacity of food systems over time to provide sufficient, adequate, and accessible food to all, in the face of various and even unforeseen challenges. Food systems cannot expect to be resilient to challenges such as climate change and COVID-19 if they are not sustainable. Historically, solutions to produce more food sustainably focussed on bringing more land into agriculture, exploiting new or underutilised resources, and adopting new technologies. However, it is now recognised that we need to do more with less, and use what we have wisely and with the best scientific and ecological investments, especially in Europe. Pressures on land use from a growing population to build houses, transport, and infrastructure, as well as protecting habitats for recreation and biodiversity, mean that simply finding more agricultural land is not an option.

Sosyal Sorumluluk Sahibi Girişimci

The functioning of enterprises depends on many factors. The number of these factors is constantly increasing causing specification of conditions determining not only the present but also the future of the organization. The operation of modern organizations is influenced by the environment, information and time. However, the most important are people who make decisions related to the existence of companies on the market. The effectiveness of using all the resources of the organization depends on their skills, competences and knowledge. Responsible and ethical business is a strategic approach. It should be based on the principles of social dialogue and the search for solutions beneficial for both the employer and the employee. Corporate social responsibility is equated with expenses. They relate to philanthropic activities as well as ecological investments. The use of modern ecological technologies as well as new management practices reduces resource consumption and, above all, reduces transaction costs. They result from the partnership built with the company's stakeholders. In Poland, more and more enterprises are engaging capital and their own employees for the benefit of the local environment. Entrepreneurs defend the idea that organizations are interested not only in profit but also in supporting social activities.