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Article

Financial Eco-Innovation as a Mechanism for Fostering the Development of Sustainable Infrastructure Systems

1
Department of Finance, School of Economics and Finance, Universidad EAFIT, Carrera 49 No. 7 Sur-50, Medellín, Colombia
2
Departamento de Ingeniería de la Organización, Facultad de Minas, Universidad Nacional de Colombia, Avenida 80 No. 65-223, Medellín, Colombia
3
Facultad de Ingeniería, Institución Universitaria Pascual Bravo, Calle 73 No. 73A-226, Medellín, Colombia
4
Facultad de Estudios Empresariales y de Mercadeo, Institución Universitaria Esumer, Calle 76 No. 80-126, Medellín, Colombia
*
Author to whom correspondence should be addressed.
Sustainability 2018, 10(12), 4463; https://doi.org/10.3390/su10124463
Received: 20 September 2018 / Revised: 18 October 2018 / Accepted: 20 November 2018 / Published: 28 November 2018
(This article belongs to the Special Issue New Trends in Finance and Investment Related to Sustainability)
This paper aims to propose a financial framework based on mezzanine-type debt for financing Sustainable Infrastructure Systems (SIS). In our analysis, an exploratory-type methodology based on a post-positivist approach for describing the financial eco-innovation in the sustainable infrastructure context is used and consequently, the essential framework’s theory is developed, as well as the characteristics and schemes for its functioning. Moreover, the theoretical foundations of financial eco-innovations are analyzed. It was concluded that researchers could benefit from this framework by acquiring a better knowledge of how a mezzanine-debt type could work together sustainability criteria. This paper is expected to contribute to expanding the existing knowledge and expanding funding knowledge frontiers for SIS, as well as contributes to providing a foundation for new research topics. The originality of the proposed framework is intended to establish new ways in order to close the gap between the development of SIS and financing sources using the incorporation of sustainability criteria in the financing process. Thus, the importance of this work is based on the fact that it can be used as an academic support for producing practical solutions. View Full-Text
Keywords: sustainable infrastructure systems; project finance; public-private partnerships; eco-innovation; mezzanine sustainable infrastructure systems; project finance; public-private partnerships; eco-innovation; mezzanine
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MDPI and ACS Style

González-Ruiz, J.D.; Botero-Botero, S.; Duque-Grisales, E. Financial Eco-Innovation as a Mechanism for Fostering the Development of Sustainable Infrastructure Systems. Sustainability 2018, 10, 4463. https://doi.org/10.3390/su10124463

AMA Style

González-Ruiz JD, Botero-Botero S, Duque-Grisales E. Financial Eco-Innovation as a Mechanism for Fostering the Development of Sustainable Infrastructure Systems. Sustainability. 2018; 10(12):4463. https://doi.org/10.3390/su10124463

Chicago/Turabian Style

González-Ruiz, Juan D., Sergio Botero-Botero, and Eduardo Duque-Grisales. 2018. "Financial Eco-Innovation as a Mechanism for Fostering the Development of Sustainable Infrastructure Systems" Sustainability 10, no. 12: 4463. https://doi.org/10.3390/su10124463

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