Valuation of the Environmental Effects of Socially Responsible Investments in Europe
Abstract
:1. Introduction
- To reorient capital flows towards sustainable investment in order to achieve sustainable and inclusive growth;
- To manage the financial risk stemming from climate change, environmental degradation, and social issues;
- To foster transparency and long-termism in financial and economic activity.
- Decentralized instruments;
- Direct management and control instruments;
- Economic instruments.
2. Literature Review
3. Hypothesis, Materials, and Methods
- V(t0), V(tn)—the initial/the end value;
- t0, tn—the initial/the end period.
4. Results
4.1. Dynamics of STI
4.2. European Countries from a Multidimensional Perspective
5. Discussion
6. Conclusions
Author Contributions
Funding
Conflicts of Interest
References
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STI 2009 | 2007–2009 | STI 2011 | 2009–2011 | STI 2013 | 2011–2013 | STI 2015 | 2013–2015 | STI 2017 | 2015–2017 | |
---|---|---|---|---|---|---|---|---|---|---|
Austria | 129 | nc | 56 | −56.6% | 82 | 46.4% | 271 | 230.5% | 992 | 266.1% |
Belgium | 595 | nc | 367 | −38.3% | 816 | 122.3% | 275 | −66.3% | 8101 | 2845.8% |
Denmark | 0 | nc | 43 | nc | nm | nc | 5232 | nc | 65 | −98.8% |
Finland | 0 | nc | 322 | nc | 220 | −31.7% | 656 | 198.2% | nm | nc |
France | 3279 | nc | 623 | −81.0% | 4392 | 605.0% | 43,065 | 880.5% | 20,620 | −52.1% |
Germany | 2995 | nc | 4523 | 51.0% | 4127 | −8.8% | 8157 | 97.6% | 9184 | 12.6% |
Italy | 987 | nc | 1051 | 6.5% | 1094 | 4.1% | 2064 | 88.7% | 52,861 | 2461.1% |
Netherlands | 3324 | nc | 19,914 | 499.1% | 20,163 | 1.3% | 37,114 | 84.1% | 7125 | −80.8% |
Norway | 0 | nc | 676 | nc | 2078 | 207.4% | nm | nc | nm | nc |
Poland | 0 | nc | 0 | nc | 0 | nc | 3762 | nc | 0 | −100.0% |
Spain | 0 | nc | 107 | nc | 82 | −23.4% | 300 | 265.9% | 12,665 | 4121.7% |
Sweden | 0 | nc | 396 | nc | 1985 | 401.3% | 2315 | 16.6% | 1966 | −15.1% |
Switzerland | 9508 | nc | 11,079 | 16.5% | 11,061 | −0.2% | 21,017 | 90.0% | 18,775 | −10.7% |
United Kingdom | 4544 | nc | 8932 | 96.6% | 12,860 | 44.0% | 21,022 | 63.5% | 16,463 | −21.7% |
Europe | 25,361 | nc | 48,090 | 89.6% | 58,961 | 22.6% | 145,249 | 146.3% | 148,840 | 2.5% |
MEAN | 3381.5 | . | 6411.9 | . | 8422.9 | . | 20,749.9 | . | 22,896.7 | . |
SD | 6627.0 | . | 12,867.1 | . | 15,747.9 | . | 38,534.2 | . | 40,359.8 | . |
CV | 200% | . | 200% | . | 190% | . | 190% | . | 180% | . |
Group of Indicators/Variables | Indicators/Variables | Correlation Coefficient (STI/1000) (p-Value) | Correlation Coefficient (STI) (p-Value) |
---|---|---|---|
Eurostat database/sustainable development indicators/climate action | Primary energy consumption, Goals 7 and 13 | 0.218 (0.519) | 0.218 (0.519) |
Final energy consumption, Goals 7 and 13 | 0.218 (0.519) | 0.218 (0.519) | |
Share of renewable energy in gross final energy consumption (%) [in electricity], Goals 7 and 13 | −0.273 (0.417) | −0.273 (0.417) | |
Share of renewable energy in gross final energy consumption (%) [in heating and cooling], Goals 7 and13 | −0.308 (0.355) | −0.308 (0.355) | |
Share of renewable energy in gross final energy consumption (%) [in transport], Goals 7 and 13 | 0.065 (0.853) | 0.065 (0.853) | |
Average CO2 emissions per km by new passenger cars (source: EEA, DG CLIMA) | −0.464 (0.151) | −0.464 (0.151) | |
Greenhouse gas emissions (source: EEA) | −0.301 (0.342) | −0.301 (0.342) | |
Greenhouse gas emissions—intensity of energy consumption (source: EEA and Eurostat) | 0.091 (0.790) | 0.091 (0.790) | |
Climate-related economic losses by type of event (source: EEA) | 0.091 (0.779) | 0.091 (0.779) | |
Contribution to the international 100bn USD commitment to climate-related expenditure (source: DG CLIMA, EIONET) | 0.164 (0.631) | 0.164 (0.631) | |
Population covered by the Covenant of Mayors for Climate & Energy signatories (source: Covenant of Mayors) | 0.252 (0.430) | 0.252 (0.430) | |
Eurostat database/sustainable development indicators/affordable and clean energy | Energy productivity, Goals 7 and 13 | 0.509 (0.110) | 0.455 (0.160) |
Eurostat database/sustainable development indicators/sustainable cities and communities | Recycling rate of municipal waste (% of total waste generated) | −0.434 (0.159) | −0.678 * (0.015) |
Recycling rate of packaging waste by type of packaging | 0.236 (0.484) | −0.118 (0.729) | |
Eurostat database/sustainable development indicators/good health and well-being | Exposure to air pollution by particulate matter (source: EEA) | −0.252 (0.430) | 0,000 (1.000) |
Eurostat database/environment and energy | Total greenhouse gas emission in its carbon dioxide equivalent | 0.136 (0.689) | 0.655 (0.029) |
Municipal waste generated (thousands of tons) | 0.077 (0.812) | 0.608 (0.036) | |
Municipal waste collected (thousands of tons) | 0.155 (0.650) | 0.700 (0.016) | |
Waste generated (kilograms per capita) | 0.018 (0.957) | 0.126 (0.696) | |
Waste treatment (kilograms per capita) | −0.088 (0.787) | 0.021 (0.948) | |
Recovery—energy recovery (R1) (kilograms per capita) | 0.039 (0.905) | −0.235 (0.463) | |
Recycling—material (kilograms per capita) | −0.014 (0.966) | −0.088 (0.787) | |
Europe 2020 indicator/climate change and energy | Share of energy from renewable sources in gross final energy consumption | −0.291 (0.385) | −0.155 (0.650) |
Greenhouse gas emissions tons per capita (source: EEA) | −0.301 (0.342) | −0.448 (0.145) | |
Greenhouse gas emissions (1990 = 100) | 0.336 (0.386) | 0.098 (0.762) | |
Europe 2020 indicators/Nature and Ecosystems | Urban population exposed to PM10 concentrations exceeding the daily limit value (50 µg/m3 on more than 35 days in a year) | −0.268 (0.399) | −0.051 (0.876) |
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Janik, B.; Maruszewska, K. Valuation of the Environmental Effects of Socially Responsible Investments in Europe. Sustainability 2020, 12, 9855. https://doi.org/10.3390/su12239855
Janik B, Maruszewska K. Valuation of the Environmental Effects of Socially Responsible Investments in Europe. Sustainability. 2020; 12(23):9855. https://doi.org/10.3390/su12239855
Chicago/Turabian StyleJanik, Bogna, and Katarzyna Maruszewska. 2020. "Valuation of the Environmental Effects of Socially Responsible Investments in Europe" Sustainability 12, no. 23: 9855. https://doi.org/10.3390/su12239855