Tool For Sustainable Development Research Articles

Open Environmental Collaborations as an Innovation Tool for Sustainable Development: Evidence from Russian Pulp and Paper Industry

Open Environmental Collaborations as an Innovation Tool for Sustainable Development: Evidence from Russian Pulp and Paper Industry

Exploring the Effects of Microfinance on Business Sustainability: A Qualitative Approach

ABSTRACT This study explores how microfinance impacts business sustainability in Bangladesh using a qualitative approach. In-depth interviews with 35 purposively selected Microfinance Institution (MFI) borrowers from the Khulna Division provided insights analyzed through thematic analysis. The findings reveal seven themes: employment generation, business growth, income growth, improved living standards, social empowerment, social awareness, and environmental awareness. These themes highlight microfinance’s role in fostering sustainable business practices. This pioneering study offers valuable insights for MFIs and policymakers, emphasizing microfinance as a tool for sustainable development in developing nations.

Impact Assessment Frameworks for Nature-Based Climate Solutions: A Review of Contemporary Approaches

This study provides a comparative analysis of ecological impact assessment (EcIA) guidance for the design and approval stages of carbon sequestration and emission reduction projects, which are rapidly proliferating in response to the global need for climate change mitigation. Previous reports of negative effects on biodiversity from such projects suggest a need for more robust project design and assessment processes to improve synergies with conservation. Using a content and thematic analysis methodology, we compared four published frameworks that guide the assessment of carbon projects in natural environments. The results showed considerable variation in environmental assessment components including the level of attention to ecosystem services and the identification of areas of high conservation value that may require specific protections. There was a general lack of guidance on the inclusion of indirect and supply chain effects despite their relevance to ecological impacts. Critically, guidance in common use in the climate mitigation sector shows differing applications of the baseline and counterfactual scenarios that are used to quantify impacts. We discuss the need to focus assessment and reporting on comparisons with recent baselines to identify the contributions of individual projects and enable adaptive management and show how aligning with the concepts of Nature-based Solutions and nature-positive could be used to reimagine the role of EcIA to achieve these objectives. If these current weaknesses can be improved, EcIA has the potential to become an important implementation pathway for the conservation–climate change nexus due to its pivotal role in project design and approval processes. Conversely, a failure to reliably address these aspects will undermine the utility of EcIA as a decision support tool for sustainable development. We encourage the further exploration of EcIA practices in this direction and highlight the pressing need for reliable comparisons to support more strategic and sustainable solutions for both the conservation and climate change agendas.

University living labs: tools for green transition and sustainable development

This study delves into the potential of living labs (LLs) as transformative tools for sustainability and green transition within university settings. Through a scoping review analyzing 38 scholarly articles, the research addresses the central question: How can living labs be a tool for transforming universities in the field of sustainability? The analysis reveals that universities frequently use living labs comprehensively in all three dimensions of sustainability. Living labs are identified as multifaceted entities, serving as research methods, stakeholder collaboration platforms, educational tools, and institutional frameworks. Additionally, the research underscores the significant role of living labs across various domains of university management. The findings suggest that living labs may play pivotal roles in nurturing sustainable practices within academic institutions. This study contributes to the understanding of the dynamic interplay between living labs and sustainability initiatives in higher education contexts.

Analysis of the Role of Social Accounting in Addressing Income Inequality and Environmental Influences

This study examines the role of social accounting in addressing income inequality and managing environmental impacts, highlighting its adaptability across diverse socio-economic contexts and its contribution to corporate social responsibility (CSR). Utilizing a systematic literature review, this study synthesizes insights from recent research to explore how flexible social accounting frameworks align with different regulatory and socio-economic environments. It assesses both theoretical foundations and practical applications. Legitimacy theory serves as a conceptual basis, framing social accounting as a tool for building public trust and enhancing corporate accountability. The findings suggest that social accounting effectively promotes economic and environmental transparency. Social accounting fosters greater public trust and aligns corporate actions with societal expectations by enabling companies to record and report wage distribution, employment practices, and environmental metrics. The study also underscores the importance of flexible social accounting frameworks that allow companies to adapt to local socio-economic conditions, especially in regions with resource constraints or unique regulatory environments. This study advances the understanding of social accounting’s dual role as a reporting and strategic tool for sustainable development. Practically, it suggests that companies adopting adaptable social accounting frameworks can improve stakeholder relations, build credibility, and support long-term sustainability goals. These findings are relevant for corporate managers, policymakers, and future researchers interested in the impact of socially responsible practices on corporate reputation and public trust.

Comprehensive Analysis of Sustainability Rating Systems for Road Infrastructure

Sustainability rating systems (SRSs) have emerged as indispensable frameworks for advancing the environmental, social, and economic sustainability of road infrastructure. Despite their growing adoption, their integration as authoritative tools within infrastructure planning and development remains limited. This study provides a comprehensive evaluation of eight leading SRSs—CEEQUAL, Greenroads, GreenLITES, GreenPave, I-LAST, INVEST, BE2ST-in-Highways, and Envision—focusing on their structural frameworks, criteria weightings, adherence to the three pillars of sustainability, and alignment with international benchmarks such as ISO, EN, and ASTM standards. By considering the three pillars of sustainability, the analysis of the eight SRSs reveals a disproportionate focus on environmental well-being (43%) and social well-being (42%), with economic well-being receiving minimal emphasis (15%). Furthermore, this study identifies notable deficiencies in the integration of critical international standards, including ISO, EN, and ASTM, which constrains the comprehensiveness and global applicability of these frameworks. Key findings suggest that the current SRSs inadequately address the principles of a circular economy, risk management, and social equity, highlighting areas for methodological enhancement. This review offers critical insights for researchers, policy makers, and practitioners seeking to refine sustainability rating systems for road infrastructure. By consolidating existing knowledge and proposing methodological advancements, this study contributes to the evolution of SRSs into comprehensive, globally relevant tools for sustainable infrastructure development.

Test of Synergy Between ESG Performance and Financial Performance

Most scholars focus on the unidirectional positive or negative impact of ESG performance on financial performance, with few studies analyzing the bidirectional causal relationship between corporate ESG performance and its financial performance. The article adopts the PVAR model to consider the ESG performance and financial performance of sample companies as endogenous variables, and conducts systematic generalized moment estimation, impulse response function analysis, and variance decomposition analysis. Research has shown that good ESG performance contributes to improved financial performance, and there is a positive synergistic effect between ESG performance and financial performance.Therefore, companies need to integrate their responsibility practices with their business models, viewing them as strategic tools for sustainable development; The government's mandatory regulation needs to be combined with enterprise self-regulation to form a mixed regulatory model, making it an institutional guarantee for the high-quality development of the capital market.

Urban Agriculture and Food Systems: A Tool for Sustainable Development

Urban Agriculture and Food Systems: A Tool for Sustainable Development

Financial development and global trade: Insights from G20 economies

This study examines the intricate relationship between financial development (FD) and international trade within the G20 from 1980 to 2021. A composite FD index, derived using Principal Component Analysis (PCA) from World Bank and IMF data, serves as the primary metric for analysis. Employing Panel Autoregressive Distributed Lag (ARDL) modeling, the study identifies a strong long-term positive correlation between FD and international trade, addressing a critical gap in the literature by integrating FD and trade dynamics at a macroeconomic scale. The findings reveal that FD negatively impacts trade and exports in the short run, but this relationship reverses in the long term, with FD positively influencing trade and exports while reducing imports. The bidirectional causality between FD and trade components highlights their reciprocal dependence, indicating that fluctuations in imports or exports can predict changes in FD and vice versa. These dynamics reflect the influence of G20 policies promoting financial stability and trade liberalization. This research underscores the pivotal role of advanced financial systems in fostering trade-driven economic growth. It offers policymakers critical insights for leveraging FD and trade integration as tools for sustainable development, providing a strategic framework to enhance global economic progress within the G20 context.

Waqf Institutions and Sustainable Development in Nigeria: An Analysis of Community Service Delivery

This study focuses on the contributions Waqf institutions make to community service delivery while critically examining their role in advancing sustainable development in Nigeria. In order to assess the impact of Waqf in sectors including education, healthcare, poverty reduction, and infrastructure development, the study uses both qualitative and quantitative data gathered through surveys, interviews, and document analysis. In order to highlight excellent practices and issues, case studies of prominent Waqf foundations in Nigeria are given, together with their accomplishments and shortcomings. The results show that although Waqf institutions have made important contributions to community service, issues including tax regulatory frameworks, low public awareness, and subpar management techniques have prevented them from reaching their full potential. The report emphasizes that in order to improve the operation of Waqf institutions, legal reforms, capacity training, and public-private collaborations are necessary. With a focus on its alignment with the Sustainable Development Goals (SDGs), the study ends by offering a roadmap for utilizing Waqf as a tool for sustainable development in Nigeria. There are suggestions on how civil society, religious institutions, and government agencies might work together to revive Waqf institutions for efficient community service delivery, which would eventually support social cohesion and national growth.

Understanding the Role of Financial Literacy in Enhancing Economic Stability and Resilience in Montenegro: A Data-Driven Approach

Financial literacy has emerged as a crucial factor in promoting economic stability and resilience, particularly in Montenegro. With the increasing complexity of financial products and the growing need for individuals to make sound financial decisions, the importance of financial literacy cannot be overstated. This study employs a quantitative, survey-based approach to explore the association between financial literacy levels and measures of economic stability, including savings rates, active debt management, and access to financial products. Data were collected through a representative, two-stage stratified sample of 1000 Montenegrin adults aged 18–79, ensuring comprehensive geographic coverage across all Montenegrin municipalities and balanced representation by gender and age. This stratification enables a detailed analysis of financial literacy trends across the population. Correlation analysis reveals that higher levels of financial literacy are associated with better financial practices, such as increased savings and responsible credit use, thereby enhancing economic resilience at the household level. Moreover, improved financial literacy contributes to sustainability by fostering long-term financial stability, reducing inequalities, and promoting inclusive economic growth. The findings suggest that financial literacy can mitigate the impact of economic shocks, emphasizing the need for policies that promote financial education as a tool for sustainable development. This study contributes to the literature on financial literacy in emerging economies and offers actionable insights for policymakers in Montenegro and similar contexts, highlighting financial education as a pathway to individual and national economic resilience.

Leveraging Qardhul Hasan Practices from Zakat Funds for Sustainable Development: a Maqasid Sharia Perspective and Its Contribution to SDGs in Malaysia

Objective: This study aims to examine the implementation of qardhul hasan from zakat funds within the framework of maqasid sharia, focusing on its potential contributions to sustainable development, particularly in relation to the achievement of the Sustainable Development Goals (SDGs). Specifically, the study explores how zakat funds, when used for qardhul hasan, can contribute to SDGs related to poverty alleviation, economic inclusion, and social justice in Malaysia. Theoretical Framework: This research applies Islamic finance theory, particularly maqasid sharia, in the context of zakat fund distribution. Maqasid sharia emphasizes the protection and welfare of the community, aligning with the principles of sustainable development. The theory of sustainable development is linked to Islamic financial practices, particularly in how qardhul hasan can serve as a tool for economic empowerment and social equity. Method: A qualitative research approach is employed in this study, utilizing content analysis and semi-structured interviews. Data are collected from various sources, including academic journals, articles, and reports on zakat fund practices in Malaysia. The study evaluates the governance of zakat funds, specifically focusing on the implementation of qardhul hasan as a sustainable financial instrument. Results and Discussion: The study finds that qardhul hasan, when implemented effectively with maqasid sharia principles, can play a crucial role in promoting sustainable development by contributing to poverty alleviation, economic empowerment, and social inclusion. However, challenges remain in the implementation process, including the lack of standardized guidelines for zakat fund governance and the need for greater awareness among stakeholders regarding the potential of qardhul hasan. The study emphasizes the importance of clear governance frameworks and strong partnerships between the government, religious institutions, and the community in ensuring the effectiveness of zakat fund distribution. Research Implications: This research offers practical recommendations for policy makers and practitioners in Islamic finance to enhance the governance of zakat funds. It suggests improving transparency, establishing clear parameters for qardhul hasan, and raising awareness about the role of zakat in achieving SDGs. Collaboration among various stakeholders is essential for maximizing the social and economic benefits of zakat funds. Originality/Value: The originality of this study lies in its exploration of qardhul hasan as a tool for sustainable development, offering insights into its role in advancing the SDGs, particularly in the Malaysian context. This study contributes to the literature on Islamic finance and sustainable development, providing a model for integrating maqasid sharia into zakat fund governance to support sustainable and inclusive societies.

Sustainable rural tourism development in Ethiopia: Leveraging economic growth, infrastructure improvements, and cultural heritage

Rural tourism, which offers authentic cultural and nature-based experiences, is increasingly recognized as a vital tool for sustainable development. Ethiopia, with its rich rural landscapes and cultural heritage, holds immense potential for rural tourism, but the sector remains underdeveloped. This study assesses the facilitating conditions and challenges of rural tourism in Ethiopia using a mixed-methods approach. Results indicate that Ethiopia’s economic growth, improved rural infrastructure, large rural population, higher ethnic and religious diversity index, and 11 UNESCO World Heritage Sites provide strong foundations for rural tourism. However, significant challenges such as inadequate infrastructure, limited marketing, restricted access to financing, ethnic conflicts, environmental degradation, and insufficient stakeholder cooperation hinder its growth. To address these barriers, the study proposes a model encompassing strategic investments in infrastructure, enhancing marketing and promotion, access to finance initiatives, conflict resolution strategies, sustainable tourism practices, enhancing stakeholder coordination, and supportive policy frameworks. By employing these strategies, Ethiopia can harness the full potential of its rural tourism sector, contributing to economic development and community well-being while promoting cultural preservation and environmental sustainability. Also, the proposed model is highly applicable to other developing economies that share similar contexts. Besides, given the importance of the seven fundamental pillars of the model, it remains relevant across tourism types like coastal destinations.

China's green bonds – A tool for sustainable development: Domestic drivers and challenges

Subject. This article discusses the role of green bonds in achieving the Sustainable Development Goals in China, as well as overseas green bond markets. Objectives. The article aims to develop proposals for the further development of the green bond market in China. Methods. For the study, I used the general scientific research methods. Results. The article finds that the unification of Chinese and international standards for the issuance of green bonds will heighten the interest of foreign investors in the development of projects related to environmental protection. Conclusions. Priority should be given to promoting green bonds within the framework of the Belt and Road Initiative.

Impacto del Programa Pueblos Mágicos en Artesanos en Chiapa de Corzo, Chiapas

The Magical Towns Program (PPM) arises as an initiative for the comprehensive tourism development of localities. Although the stated purpose, a low impact of the PPM is observed in the registered localities. The objective of the research is to analyze the impact of the PPM, in particular the development of the artisans of the town of Chiapa de Corzo through tourism, as a tool for sustainable development. The study is undertaken under the mixed approach (qualitative and quantitative) of cross-section. Artisans and members of the local PPM committee are surveyed. The information collected was processed, analyzed and systematized, resulting in a low contribution of the PPM in terms of promotion, development and improvement in the quality of life of the artisans. The experience of the PPM in the town of Chiapa de Corzo is a watershed for the implementation of public policies and actions with greater social integration in the territory

Green Bonds: A Financial Tool for Sustainable Development and Investment using EDAS method

Green bonds, a key innovation in sustainable finance, have gained prominence over the past decade by providing a mechanism for financing environmentally-friendly projects. Unlike conventional bonds, green bonds incorporate a "use of proceeds" clause, ensuring that funds are directed toward projects that contribute to sustainability goals. This paper examines different aspects of green bonds and other "labelled bonds," including social and sustainability bonds, and positions them within the context of sustainable business models, particularly Business Models for Sustainability (BMfS). Research significance: Green bonds, which include a "use of proceeds" clause, ensure that funds are allocated to environmentally sustainable projects. Despite the growing interest in green bonds, much of the existing literature has focused on financial metrics such as the "green bond premium" rather than exploring broader implications for sustainability. This research addresses that gap by developing a structural model for green bond pricing and proposing policies to enhance their market appeal. Alternative: EcoBond A, Green Future Bond B, Clean Energy Bond C, Sustainable Growth Bond D, Climate Action Bond E, Renewable Resources Bond F. Evaluation Preference: Interest Rate (%), Environmental Impact (1-10), Project Type Score (1-10), Credit Rating Score (1-10). The results indicate that Climate Action Bond E achieved the highest rank, while Green Future Bond B had the lowest rank being attained. Conclusion: “The value of the dataset for Climate Action Bond E, according to the EDAS method, Green Bonds and Sustainable Finance achieves the highest ranking.”

ҚАЗАҚСТАНДАҒЫ ЭКОЛОГИЯЛЫҚ ТУРИЗМНІҢ НЕГІЗГІ БАҒЫТЫ РЕТІНДЕ АГРОТУРИЗМНІҢ ДАМУ БОЛАШАҒЫ

Ecotourism is the fastest growing and most sought after type of tourism in the world today. In turn, agritourism is a priority direction of ecological tourism. The demand for agritourism is constantly growing, so there is a need to develop this type of tourism in Kazakhstan. In recent years, active urbanization has led to the fact that urban residents are increasingly drawn to nature. The Republic of Kazakhstan has a huge number of prerequisites for the development of agritourism in its vast territory. Throughout Kazakhstan there are many villages with a rich cultural and historical heritage, in which people have been leading a traditional way of life since ancient times. The original culture, traditional way of life, local rural flavor combined with natural nature, picturesque landscapes, as well as diverse flora and fauna can be of interest to both foreign and Kazakhstani tourists. The development of rural tourism can benefit the countryside by protecting weak untouched landscapes, elevate the status of poor villages, increase the importance of nature and instill an ecological culture in the population. Resources for the development of agritourism in the Republic of Kazakhstan are available in all regions of the country, so the prospects for the development of this type of tourism in Kazakhstan are great. In the very near future, agritourism in Kazakhstan may become a sector of economic activity that creates conditions for the inflow of new funds into the rural economy, as well as become a tool for sustainable development.

ACTIONABLE CULTURAL RESOURCES FOR SUSTAINABLE LOCAL TOURISM DEVELOPMENT – MERITS OF DIGITAL SUPPORT SYSTEMS

Sustainable tourism development is a major policy challenge for many cities, regions or countries. This paper describes various novel analytical ingredients to ensure a consistent and professional policy strategy in tourism destinations. In all cases, reliable and accessible data are necessary for an actionable tourism policy. In the present study advanced digital support systems for cultural resource-use in local tourism strategies are presented. The paper uses the region of South-Limburg in the Netherlands as a data-driven testcase and as a cultural tourism showcase for demonstrating the great potential of digital twins as digital visual policy and participation tools for co-creative local sustainable tourism development.

Festivals: an Opportunity for Sustainable Development of Tourism Regions

Objective: The purpose of this development is to present the opportunities provided by festivals as organized events for the sustainable development of tourism regions. Theoretical Framework: The article focuses on several key concepts. First, it examines the role of festivals as organized events in promoting tourism. Secondly, it is based on the sustainability principles, balancing environmental, economic and socio-cultural factors. Lastly, it considers event tourism as a significant driver for local development. Method: An empirical research which includes an analysis of published materials and documents that study organized events and festivals in particular as part of cultural and historical tourism was conducted. Results and Discussion: Festivals significantly contribute to the sustainable development of tourism regions by enhancing local cultural identity and attracting tourists. The successful organization of festivals can strengthen the image of a region, promoting long-term benefits for both the tourism industry and local communities. Research Implications: Festivals can serve as strategic tools for sustainable tourism development by fostering regional cultural identity and attracting tourists. Policymakers and tourism managers should prioritize festival planning and management as a means to enhance the economic, social and cultural sustainability of tourism regions. Originality/Value: The originality of the article lies in its focus on festivals as a unique catalyst for the sustainable development of tourism regions, highlighting their multifaceted impact on local economies, culture, and social cohesion. This study provides valuable insights into how well-managed festivals can enhance the long-term sustainability of tourism destinations, offering practical guidance for policymakers and event organizers.

Lessons from a participatory community cricket breeding project in Vientiane Province, Lao PDR

Abstract Edible insect production is a key tool for sustainable development and global food security, but its social dimensions and the organisation of farming operations remain understudied. Crickets are among the most recognised edible insects for farming and offer appealing development opportunities for Lao PDR – a Southeast Asian country whose cricket farming sector has lagged behind neighbouring Thailand and which continues to experience challenging economic and food security conditions. Concerning these sustainable development and research priorities, this paper presents the case study analysis of a service evaluation of Cricket Lao Farm, which implemented a project on the distributed (off-site) production of crickets among local community members. Data collection took place from September to November 2023 and included a survey with 30 participants complemented by qualitative information from discussion groups, home visits, informal conversations, and project documentation. While small-scale farming operations ended within a year due to widespread cricket mortality of unknown cause, community-based cricket farming was in principle profitable and demonstrated strong development potential and local relevance. Furthermore, most of the community-based farmers were motivated and interested in resuming operations in the future. The analysis of this case offers important lessons for further development of the cricket farming sector in Lao PDR, highlighting the challenges of the Western social enterprise model in a development setting, the need to actively manage participation, and to develop an understanding of local community structures before commencing operations. To ensure future success, projects should include robust monitoring and evaluation plans; regular and bidirectional communication between community members and the central farm; co-development of breeding strategies, response plans, and good animal husbandry practices; and community engagement activities involving local schools.