Financial Sustainability Research Articles

Integrating policy incentives and risk management for effective green finance in emerging markets

Integrating policy incentives and risk management is pivotal for driving the growth of green finance in emerging markets. The transition to sustainable finance necessitates an alignment between government policies and financial institutions to mitigate the risks associated with green investments. This abstract explores how policy incentives, such as tax breaks, subsidies, and regulatory frameworks, can encourage financial institutions to channel investments into green projects while addressing market-specific challenges like underdeveloped financial infrastructure and regulatory gaps. In emerging markets, the perceived risks of green investments, such as uncertain returns and regulatory volatility, often deter private sector engagement. However, integrating robust risk management strategies—including diversification, public-private partnerships, and risk-sharing mechanisms—can significantly reduce these risks, thereby enhancing the attractiveness of green finance. Additionally, government-backed incentives can lower capital costs for green projects, enabling financial institutions to provide more favorable lending terms. Regulatory frameworks that standardize green finance criteria and reporting are also critical for fostering transparency and accountability, which in turn build investor confidence. The interplay between policy incentives and risk management is further highlighted through case studies from emerging markets that demonstrate successful implementation of green finance initiatives. These examples illustrate how policy-driven support mechanisms and comprehensive risk management frameworks can unlock significant investment potential in green infrastructure, renewable energy, and sustainable agriculture. By fostering a supportive policy environment and addressing risk factors through innovative financial instruments, emerging markets can enhance green finance flows, promote sustainable development, and contribute to global climate goals. This integrated approach is essential for bridging the financing gap in green projects, ensuring that environmental sustainability is aligned with economic growth and risk mitigation.

The Influence of Capital Adequacy Ratio (CAR), Non-Performing Loans (NPL), Return on Assets (ROA), and Loan To Deposit Ratio (LDR) on Financial Sustainability in Regionally Owned Enterprises (BUMD) Bank Pasar Kulon Progo for the 2018-2023 Period

Bank Pasar Kulon Progo plays a key role in promoting regional economic growthand improving welfare. To maintain financial stability, it is essential to assessfactors influencing financial sustainability. This study examines the impact ofCapital Adequacy Ratio (CAR), Non-Performing Loans (NPL), Return on Assets(ROA), and Loan to Deposit Ratio (LDR) on the Financial Sustainability Ratio(FSR) of Bank Pasar Kulon Progo from 2018 to 2023. A quantitative approachwas used, analyzing financial report data with purposive sampling. Multiplelinear regression was applied to assess the relationships between the variables.The results show that CAR, NPL, ROA, and LDR have a significant impact onFSR, collectively explaining 79.5% of its variation (R² = 0.795). The remaining20.5% is influenced by other factors outside the model. These findings suggestthat effective management of CAR, NPL, ROA, and LDR is crucial for ensuringthe financial sustainability of Bank Pasar Kulon Progo.

Advancing ESG Portfolio Optimization: Methods, Progress, and Future Directions

Objective - The integration of environmental, social, and governance (ESG) criteria into investment portfolios has emerged as a critical field of study, underscoring the interconnectedness between financial markets and global sustainability objectives. Methodology/Technique - This systematic literature review analyzes 157 academic documents, focusing on ESG portfolio optimization methodologies and identifying emerging trends. Key methods reviewed include genetic algorithms, dynamic optimization models, multi-objective optimization frameworks, and machine learning techniques. Findings - Despite considerable advancements, gaps remain, such as the need for broader application across diverse markets and asset classes, improved risk-return assessments, and standardized ESG data reporting. Future research should also investigate the role of central banks and regulators in fostering sustainable finance. Novelty - By addressing these gaps, stakeholders can better align investment practices with sustainability goals, contributing to a more resilient and inclusive global economy. Type of Paper: Review JEL Classification: G11, Q56, G28, G32 Keywords: Sustainable Investment, Sustainable Finance, ESG Portfolio Performance, ESG Risk Management, ESG Portfolio Optimization Reference to this paper should be referred to as follows: Billah, A.L; Koesrindartoto, D.P; Faturohman, T. (2024). Advancing ESG Portfolio Optimization: Methods, Progress, and Future Directions, Acc. Fin. Review, 9(2), 65 – 73. https://doi.org/10.35609/afr.2024.9.2(2)

Literacy Promotion: An Essential Component of Primary Care Pediatric Practice: Technical Report.

Early literacy promotion in pediatric primary care supports parents and caregivers reading with their children from birth, offering counseling in interactive, developmentally appropriate strategies and providing developmentally and culturally appropriate and appealing children's books. This technical report reviews the evidence that reading with young children supports language, cognitive, and social-emotional development. Promoting early literacy in pediatric primary care offers a strengths-based strategy to support families in creating positive childhood experiences, which strengthen early relational health. An increasing body of evidence, reviewed in this report, shows that clinic-based literacy promotion, provided with fidelity to an evidence-based model, has benefits for children, for parents and caregivers, and for pediatric physicians and advanced care providers as well. Reading with young children supports early brain development and the neural "reading network," and improves school readiness. High-quality literacy promotion is especially essential for children who face disparities and inequities because of social factors, systemic racism, and socioeconomic risk. All families benefit from high-quality and diverse books and from developmentally appropriate guidance supporting interactions around books and stories. Thus, literacy promotion can be a universal primary prevention strategy to strengthen families and support healthy development. Partnerships at community, local, and state levels offer opportunities for integration with other programs, services, and platforms. Literacy promotion in primary care pediatric practice, recognized by the AAP as an essential component since 2014, has become increasingly common. There are successful models for public funding at federal, state, county, and municipal levels, but sustainable funding, including payment to pediatric physicians and advanced care providers, remains a need so that the benefits of pediatric early literacy promotion and the joys of books and shared reading can truly be offered on a population level.

Logistics optimization and inventory control in Peruvian grocery companies

The company being analyzed, which specializes in selling groceries, faces significant challenges in its logistics management. Lack of supply chain visibility prevents informed inventory decisions, resulting in product overages or shortages. Supply chain delays affect profitability, and inaccurate demand planning generates additional costs and financial losses. This study, which is relevant to the Sustainable Development Goals, mainly in combating poverty through the economic success of SMEs, evaluates the effectiveness of logistics management in inventory control. The results show an increase in ending inventory by 105.12% and a decrease in inventory turnover by 29.29%, suggesting a strategic accumulation of stock. In addition, an improvement in the company's liquidity was observed, with an increase in total current assets by 107.66% and a financial restructuring oriented towards expansion projects. These findings underscore efficient logistics management's importance in optimizing resources and improving customer satisfaction. Future research should focus on the integration of advanced technologies and the implementation of sustainable financing strategies to further improve operational efficiency and profitability.

The equity road ahead for financing non-national immunization program vaccines in China: challenges and opportunities from a qualitative study

BackgroundIn China, national immunization program (NIP) vaccines benefit from robust financial support and have achieved high coverage. Non-NIP vaccines rely on fragmented funding sources, mostly out-of-pocket payment, and face sub-optimal and inequitable coverage. Sustainable financing needs to be secured for addressing equity in non-NIP vaccine delivery. However, discussion and understanding of this issue remain limited. This study aims to analyze the current situation, comprehensively identify challenges and opportunities in non-NIP vaccine financing, and offer suggestions to enhance vaccine uptake and improve public health.MethodsBetween July and December 2023, we conducted a series of semi-structured, in-person interviews with 55 stakeholders from the Health Bureau, Centers for Disease Control and Prevention, Medical Insurance Bureau, and Finance Bureau across five provinces in China. Participants were selected through stratified sampling, and the interviews mainly included their involvement in non-NIP vaccine financing, challenges faced, and strategies for improvement to enhance financing performance. Informed consent was obtained, and thematic analysis was used to analyze the data.ResultsNon-NIP vaccine financing sources include out-of-pocket payments, government fiscal, health insurance and other external funds. These four channels differ in vaccine types covered, costs, and target populations, each with unique challenges and opportunities. High out-of-pocket costs remain a significant barrier to equitable vaccine uptake, while market competition has lowered the vaccine price and improved accessibility. Local fiscal support for free vaccination programs faces challenges related to sustainability and regional disparity, though governmental commitment to vaccination is growing. Nevertheless, centralized procurement organized by the government has lowered the price and reduced the financial burden. Despite legal restrictions on using basic health insurance for vaccinations and limited commercial insurance options, private medical savings accounts and mutual-aid mechanisms present new opportunities. Although the scope and impact of external support are limited, it has successfully increased awareness and social attention to vaccination.ConclusionRelying on individual payments as the main financing channel for non-NIP vaccines is unsustainable and inadequate for ensuring universal vaccine access. A concerted and synergistic approach is essential to ensure sufficient, sustainable resources and enhance public financial management to improve equity in the non-NIP vaccines.

A Disposable Diaper Collection Project in Langa, Cape Town, South Africa: A Pilot Study.

In developing countries, there is currently no established waste management plan that includes resource recovery from used disposable diapers (DDs) apart from incineration and landfilling. In low-income areas with limited storage space, the complex composition and odour of used DDs make it impossible to manage properly if not supported by effective waste management systems. In the absence of effective waste management, DDs are dumped in open spaces, burned or buried. These actions pose threats to the safety and health of humans, animals and the environment. Separation and collection of DDs are critical preliminary steps to landfilling, recycling or beneficiation. In this article, we describe a case study of two pilot collection projects in Langa township in Cape Town, South Africa, to determine whether and how a source-separated collection system can work in low-income, resource-constrained areas. The lessons learned highlighted the following: The eagerness of parents to participate for the benefit of their own and their children's health; the complementarity of the two pilot collection models to serve the needs of the community; the important role non-government organisations play in the implementation of waste management projects; the significance of the possible job creation opportunities and the unintended benefits of enhancing social cohesion. The financial sustainability of these projects needs further exploration.

The nexus between institutional quality and the financial sustainability of microfinance institutions

The nexus between institutional quality and the financial sustainability of microfinance institutions

Zrównoważone finansowanie z perspektywy państw Grupy Wyszehradzkiej i regionalnych rynków kapitałowych

An article is devoted to the issue of sustainable financing in the European Union from the perspective of the Visegrad Group countries. The conditions for the development of sustainable financing in the Visegrad Group countries and key challenges were examined and presented. The role of non-financial disclosures and stock exchanges in the region and the initiatives undertaken in this area were also indicated.

Driving the Future: Transition Finance under the EU Framework

The EU sustainable finance framework identifies four key elements for transition finance: taxonomy, credible transition plans, science-based targets, and climate benchmarks. This article delves into each element to help financial market participants better understand and leverage European Union (EU) tools, enhancing their transition finance strategies and supporting companies in developing credible transition plans. It concludes that taxonomy, CapEx investments and plans, GHG emission reduction targets, and annual absolute emissions reductions are crucial for validating credible transition plans, with a strong emphasis on phasing out fossil fuels and ensuring robust corporate climate governance.

PREPARATION AND CHARACTERIZATION OF POLYMER INCLUSION MEMBRANES BASED ON BIODEGRADABLE CELLULOSE/ALGERIAN CLAY FOR HEAVY METALS REMOVAL FROM WASTEWATER

Separation membranes have gained attention as promising options for water and wastewater treatment due to their financial sustainability, and eco-friendliness. However, practical challenges have limited their application in water separation. To overcome these limitations, inorganic-organic hybrid membranes have been developed in this study. The present work deals with two attractive aspects: (i) economical, through the valorization of a local clay (Algerian kaolin), and (ii) environmental, which is based on the membrane selectivity for metal ions. The principal objective of this work is the development of enhanced nanocomposite membranes. It is achieved with low costs, based on cellulose triacetate (CTA) as a polymeric matrix modified by the addition of a lamellar filler, i.e. yellow clay obtained from Jijel, located in the east of Algeria, and plasticized by dioctyl phthalate (DOP). A further objective of this paper was the treatment of wastewater polluted by lead (Pb2+) and cadmium (Cd2+). The prepared membranes were characterized by various characterization techniques, including scanning electron microscopy (SEM), Fourier-transform infrared (FTIR) spectroscopy and thermogravimetric analysis (TGA). All synthetized membranes had an amorphous structure, with homogeneous pore morphology and distribution. Moreover, the presence of nanocomposite clay showed effective integration into the membrane matrix and led to a significant improvement in thermal resistance. These membranes were applied to treat a synthetic aqueous solution contaminated with heavy metals, namely Pb2+ and Cd2+. The results revealed a rejection rate higher than 50%, suggesting the potential effectiveness of a stable and environmentally sustainable polymer inclusion membrane system for water purification.

Impact of green bond issues on Euronext firms’ stock abnormal returns

Climate change is forcing countries to take strategic measures to reduce the negative impact on future generations. In this context, sustainable finance has played a key role in sustainable development since the establishment of environmental, social and governance principles. The underlying market has developed rapidly since its inception, with green bonds being the most prominent instrument. This article aims to study the impact of green bond issues on the abnormal stock returns of stocks listed on the main Euronext indices. The sample includes 58 issues carried out between 2014 and 2022 by 21 different firms listed on the AEX (Netherlands), BEL 20 (Belgium), CAC 40 (France), ISEQ 20 (Ireland), OBX (Norway) and PSI (Portugal) indices. The methodology follows the procedures of the event study using the market model. The results show significant positive stock price reaction on the issue date. After the abnormal losses just before the issues, suggesting the reserves of this consolidating market, abnormal gains persisted for over a week, providing evidence against the weak efficiency Euronext’s financial markets. The findings are useful for policy makers and entrepreneurs to promote innovative initiatives that encourage the financing and development of environmentally sustainable infrastructures.

Reusable glassware for routine cell culture—a sterile, sustainable and affordable alternative to single-use plastics

Cell culture is a cornerstone of in vitro biological research. Whilst glassware was once commonplace in tissue culture facilities, in recent decades laboratories have moved towards a heavy reliance on single use plastics for routine procedures. Single use plastics allow for accessible, sterile, and often affordable equipment that comes at a high environmental cost. We developed a glassware preparation and cleaning process that allowed the comparison of “traditional” plastic-heavy, and adapted “sustainable,” cell culture practices, to empirically compare the sterility, viability, and proliferative capacity of cells cultured with differing techniques, by observing IL-6 production, morphology, and proliferation rate of cultured human pulmonary fibroblast cells. During which, we calculated the carbon footprint of traditional versus sustainable methods. We additionally endeavored to provide a realistic overview of the steps required to transition to more sustainable cell culture practices and make suggestions to ease the cost, labor, and time required to uptake similar practices in other laboratories. Cells cultured using reusable glassware did not show signs of contamination or stress compared to cells grown solely with plasticware, and glassware baked at 180°C for 120 min was sufficiently decontaminated and depyrogenated for culturing these cells. An individual researcher adopting the same methodology could reduce their carbon footprint by 105.92 kg of Carbon dioxide equivalent (CO2e) whilst also saving money (£408.78) over a 10-year period. We predict that these benefits would be greater if more researchers were to uptake these adapted practices. We intend for this paper to reassure researchers that viable, sterile, and sustainable routine cell culture can be achieved with little upfront cost to the researcher, with the prospective benefit of greatly reducing the cost to the environment. We additionally hope that increased uptake, and thus demand of more sustainable practices, encourages suppliers, policy makers, and funding bodies to make sustainable practices more accessible to individual researchers and institutions worldwide.

Financial Capacity of Indonesian Schools and Community Learning Centers in Kota Kinabalu: A Comparative Analysis

This study aims to analyze the financial capacity of Indonesian Schools (SIKK) and Community Learning Centers (CLC) in Kota Kinabalu, focusing on the comparison of resources and financial management strategies. The research was motivated by the fundamental differences in access to and management of funds between these two types of educational institutions, which potentially impact the quality of education provided. A qualitative research approach was employed, with data collected through in-depth interviews, observations, and analysis of financial documents from SIKK and CLC. The data were analyzed using thematic analysis techniques to identify key patterns and differences in financial capacity between the two institutions. The findings reveal that SIKK has a more stable and structured financial capacity compared to CLC, which often faces uncertainties in funding. This instability is attributed to CLC's reliance on inconsistent funding sources, while SIKK benefits from greater government support. These findings highlight the need for a more sustainable and equitable funding model for CLCs to ensure their ability to provide quality education. The implications of this study suggest that improving financial capacity and better management in educational institutions can significantly impact the delivery of more equitable and high-quality education. Stakeholders, including the government and non-governmental organizations, should consider these recommendations in future educational policy planning.

Investment Strategies and Financing Approaches in Emerging Enterprises

Investment activities are arguably the most crucial factor in the development and sustenance of an enterprise, especially in emerging markets. While there have been numerous studies on the financing structure, there is a substantial gap in the literature regarding the impact of capital structure and cost of capital on investment efficiency in transitional economies. This research seeks to address this gap, using a mixed-method approach that combines qualitative case studies and quantitative financial analysis. The research involved conducting case studies with five enterprises from the technology, manufacturing, and services sectors. In addition, the researcher used secondary data obtained from the websites of the Bucharest Stock Exchange and the Romanian National Registry of Financial Statements. The data was used to calculate the Return on Investment, debt-to-equity ratio, and cost of capital. The analysis shows that businesses that adopt the optimal capital structure perform better, relative to their counterparts, in the aspect of profitability and market value. They also have a lower cost of capital, as well as greater financial sustainability. On the other hand, businesses with higher leverage perform poorly, with their failing market position forcing them to adopt measures such as providing discounts to customers and investing in motor vehicles to reduce operational costs. This research shows that even in the current state, some of the basic principles that have traditionally applied still have bearing. However, there are some underlying problems, some of which have been highlighted in Nenite-Petrescu et al.’s case study of three Romanian companies. Some of the factors which have been identified as contributing to the negative performance of the three companies include poor return on assets, return on capital employed, and return on investment; low levels of liquidity; low sales and profits; and high cost of Sales, as well as low purchase and employment of personnel. All these factors represent significant inefficiencies in the aspect of capital unproductivity for the businesses. Some of the lessons learnt from the analysis include the non-recognition of business risks and their mitigation. A business should consider the various events and circumstances that may impact negatively on their ability to meet obligations toward obligations taken by such businesses. In conclusion, enterprises need to manage their financing strategies to ensure that they minimize their risk, while maximizing their long-term growth potential. This research will prove important for future researchers and business enterprises in transitional economies.

Integration of livelihood support with MHPSS in rehabilitation of torture survivors in LMICs: Addressing poverty and mental health dynamics.

The integration of livelihood support with mental health and psycho-social support (MHPSS) seems crucial for the rehabilitation of torture survivors in low- and middle-income countries (LMICs). This study aimed to explore the intersec-tionality of poverty and mental health, and the integration of livelihood support with-in MHPSS frameworks related to the rehabilitation of torture survivors in LMICs. A cross-sectional study was conducted using a semi-structured questionnaire distributed to members of the International Rehabilitation Council for Torture Victims (IRCT) in LMICs (n=25). The questionnaire explored the perception of IRCT centres in LMIC countries regard-ing the extent to which poverty contributes to poor mental health outcomes among torture sur-vivors and the effectiveness of integrating livelihood support into MHPSS interventions. The study highlighted the significant economic challenges faced by torture survivors, indicating a high prevalence of extreme poverty among this group. The study found that 92% of respondents believed that poverty and mental health outcomes of torture survivors are strongly linked. Eco-nomic and social inequalities were identified as key determinants of mental health, emphasizing the need to address these inequalities in rehabilitation programs for torture survivors. The study underscores the critical connection between poverty, mental health, and the experience of torture. In the view of most IRCT centres, the integration of livelihood support with MHPSS is essential for addressing economic disparities and promoting long-term resilience among survivors. The results highlight the need to conduct long-term longitudinal studies that provide support to this perception. The study recommends enhancing coordination among stakeholders, addressing cultural and social barriers, securing sustainable funding, and developing strategies to integrate livelihood support with MHPSS for torture survivors. According to participants, rehabilitation programmes should include economic empowerment, mental health support, and social integration, to contribute to a holistic recovery, long-term resilience, and overall well-being.

Framework for Multistakeholder Patient Registries in the Field of Rare Diseases: Focus on Neurogenetic Diseases.

Progress in genetic diagnosis and orphan drug legislation has opened doors to new therapies in rare neurogenetic diseases (RNDs). Innovative therapies such as gene therapy can improve patients' quality of life but come with academic, regulatory, and financial challenges. Registries can play a pivotal role in generating evidence to tackle these, but their development requires multidisciplinary knowledge and expertise. This study aims to develop a practical framework for creating and implementing patient registries addressing common challenges and maximizing their impact on care, research, drug development, and regulatory decision making with a focus on RNDs. A comprehensive 3-step literature and qualitative research approach was used to develop the framework. A qualitative systematic literature review was conducted, extracting guidance and practices leading to the draft framework. Subsequently, we interviewed representatives of 5 established international RND registries to add learnings from hands-on experiences to the framework. Expert input on the draft framework was sought in digital multistakeholder focus groups to refine the framework. The literature search; interviews with 5 registries; and focus groups with patient representatives (n = 4), clinicians (n = 6), regulators, health technology assessment (HTA) bodies and payers (n = 7), industry representatives (n = 7), and data/information technology (IT) specialists (n = 5) informed development of the framework. It covers the interests of different stakeholders, purposes for data utilization, data aspects, IT infrastructure, governance, and financing of rare disease registries. Key principles include that data should be rapidly accessible, independent, and trustworthy. Governance should involve multiple stakeholders. In addition, data should be highly descriptive, machine-readable, and accessible through a shared infrastructure and not spread over multiple isolated repositories. Sustainable and independent financing of registries is deemed important but remains challenging because of a lack of widely supported funding models. The proposed framework will guide stakeholders in establishing or improving rare disease registries that fulfill requirements of academics and patients as well as regulators, HTA bodies, and commercial parties. There is a need for more clarity regarding quality requirements for registries in regulatory and HTA context. In addition, independent financing models for registries should be developed, as well as well-defined policies on technical uniformity in health data.

Membuka Akses Generasi Zenial Dengan Meningkatkan Literasi dan Keterampilan Investasi Melalui Pembentukan Galeri Edukasi

Generation Z has great potential to change the economy, but low literacy and investment skills can hinder their ability to achieve financial independence and manage their finances effectively. Therefore, the aim of this service is to provide literacy related to finance and investment to help them manage their finances wisely, fundamentally change their views on finances, and enable them to make smarter investment decisions and build a more stable and financial future. sustainable. The methods used in this service include the establishment of an Education Gallery which is designed to provide information, training and resources related to financial literacy and investment. This gallery will hold various activities such as seminars, Focus Group Discussions, as well as provide educational material that is easily accessible and understood by generation Z. The targeted output of this service is increasing the level of literacy and investment skills among generation Z. With the hope that after participating in this program, generation Z will be able to understand the concept of financial management, the basic concepts of investment, understand the risks and opportunities in investing, and be able to make better financial plans for their future. Thus, through innovative and sustainable approaches such as the establishment of the Education Gallery, this community service aims to make a significant contribution in improving the welfare and financial sustainability of generation Z, as well as strengthening the economic foundation of society as a whole, This can be seen from the results of the post-test of participants after taking part in the training, their understanding of investment has increased.

Escalating costs of innovative medicines: perspective and proposals.

Public healthcare systems are challenged by the soaring costs of medications that require increasing resources, often at the expense of other investments. The increasing pharmaceutical budget poses a threat to the allocation of funds for essential preventive and primary healthcare services while also raising concerns about equitable access, particularly in models where patients bear part of the costs out of their own pockets. Proposals on how to ensure ongoing and long-term accessibility, efficiency, and financial stability are required. The escalating costs of medicines may be explained in part by the mismatch between the traditional value-based pricing and reimbursement frameworks and the type of clinical development of targeted therapies and precision medicine in clinical practice. New appraisal methods and managed access strategies should be adapted to therapies targeting small populations and addressing increased uncertainty. Fair pricing strategies, transparent healthcare investments based on problems and outcomes, regulatory reforms, international cooperation, and critically examining the drug acquisition model are potential solutions. Transitioning from an industry-driven pricing approach to a health-driven payment model can help align the cost of treatments with actual health outcomes, establishing a foundation for a healthcare system that addresses immediate challenges and fosters long-term well-being. Acknowledging the lack of a universally applicable solution, the practical implementation of interventions requires a reframing of the pricing and access system and adaption to the targeted therapeutic approaches. Balancing innovation with financial sustainability necessitates a collaborative, adaptive, and transparent approach, as well as transitioning toward health-driven payment models, moving the focus from the cost of medications to the well-being of populations worldwide.

MODELO PARA DECISÃO EM GESTÃO DE DRAGAGEM NA HIDROVIA DO RIO MADEIRA

This meticulous and detailed study articulates the integration of the Multicriteria Decision Support Methodology (MCDA) with a rigorous analysis focused on financial and operational sustainability, which is fundamental in the management of dredging the Madeira River waterway. The project aims to develop an integrated model that not only prioritizes dredging investments efficiently but also promotes responsible and sustainable management of water resources. This work underscores the critical importance of informed and balanced decision making, incorporating a variety of criteria and considering the interests of multiple stakeholders. With this, the study proposes to establish a comprehensive and robust protocol, aimed at guiding strategic decisions in the management of the waterway. This protocol aims to ensure that each decision made is not only operationally efficient but also sustainable and aligned with the long-term objectives for the sustainable development of the region.