The Concept of Shared Value in the Theory of Sustainable Finance

2020 ◽  
pp. 21-42
Author(s):  
Katarzyna Cheba ◽  
Iwona Dorota Bąk
Keyword(s):  
Sustainable Development ◽  
Theoretical Basis ◽  
Developed Countries ◽  
Current Level ◽  
Shared Value ◽  
Country Level ◽  
Shared Space ◽  
Sustainable Finance ◽  
Important Direction ◽  
First Time

The main purpose of this chapter is to identify the existing relations between the selected areas of sustainable development but carried out on the basis of the indicators describing the macroeconomic dimension of this development from the OECD countries' perspective. The theoretical basis for analyses is the concept of shared value, for the first time presented by Porter and Kramer in 2011. In this chapter, this proposition was applied to the studies carried out on the country level. For this purpose, the multidimensional statistical analysis was applied. The results of the study confirmed that on the current level of development, even in the case of the most developed countries, it is very difficult to find the shared space with the same level of development between these areas. In the same time, it is very important direction of further research and decisions undertaken on the macroeconomic level.

A review of innovative bond instruments for sustainable development in Asia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nisha Prakash ◽  
Madhvi Sethi
Keyword(s):  
Sustainable Development ◽  
Private Sector ◽  
Financial Markets ◽  
Financial Instruments ◽  
Content Type ◽  
Global Institutions ◽  
Country Level ◽  
2030 Agenda ◽  
Asian Economies ◽  
Sustainable Finance

Purpose Advancing the economies in Asia toward meeting sustainable development goals (SDGs) needs an unprecedented investment in people, processes and the planet. The participation of the private sector is necessary to bridge the financing gap to attain this objective. Engaging the private sector can contribute significantly to attaining the 2030 agenda for SD. However, the financial markets in Asian economies are yet to realize this potential. In this context, this paper aims to discuss the state of finance for SD in Asia and identifies innovative financial instruments for attracting private investments for SDs in these economies. Design/methodology/approach This study relies on published articles, reports and policy documents on financing mechanisms for SD. The literature review covered journal data sources, reports from global institutions such as the UN, World Bank, International Monetary Fund and think-tanks operating in the field of climate change policies. Though the topic was specific to financial market instruments, a broader search was conducted to understand the different sources of sustainable finance available, particularly in Asia. Findings The investments that are required for meeting the SDGs remain underfunded. Though interest in sustainability is growing in the Asian economies, the financial markets are yet to transition to tap the growing interest in sustainable investing among global investors. This paper concludes that to raise capital from private investors the Asian economies should ensure information availability, reduce distortions and unblock regulatory obstacles. It would also need designing policies and introducing blended financing instruments combining private and public funds. Research limitations/implications Though the study has grouped Asian economies, the financing strategy for SDGs should be developed at the country-level considering the domestic financial markets, local developmental stage, fiscal capacity and nationally determined contributions. Further research can focus on developing country-specific strategies for using innovative financial instruments. Originality/value Mobilizing funds for implementing the 2030 Agenda for SD is a major challenge for Asian economies. The paper is addressed to national policymakers in Asian economies for developing strategies to raise capital for SD through private participation. It provides opportunities for revisiting national approaches to sustainable finance in these economies.

scholarly journals Finance, Sustainability and Negative Externalities. An Overview of the European Context

2019 ◽  
Vol 11 (15) ◽  
pp. 4249 ◽  
Author(s):  
Magdalena Ziolo ◽  
Beata Zofia Filipiak ◽  
Iwona Bąk ◽  
Katarzyna Cheba ◽  
Diana Mihaela Tîrca ◽  
...  
Keyword(s):  
Sustainable Development ◽  
Western Europe ◽  
Negative Impact ◽  
Developed Countries ◽  
Special Focus ◽  
The European Union ◽  
Negative Externalities ◽  
Eu Countries ◽  
Sustainable Finance ◽  
The Impact

The goal of the paper is to examine the relation between finance and sustainability, with a special emphasis on the impact of negative externalities. Sustainable development as a concept aims to mitigate negative externalities. Conventional finance offers no room for the environment and society. Therefore, three-dimensional sustainable finance has appeared. This paper is the first original attempt to examine the relationship between: financial, economic, environmental and social development indicators from the sustainability perspective, with a special focus on externalities. To study the disparities between the European Union (EU) countries belonging to the OECD in the field of sustainable development and sustainable finance, the multi-criteria taxonomy was used. The basis of the analyses was the indicators transformed according to the relative taxonomy method. The database, based on Eurostat, contains indicators describing pillars of sustainable development such as: economic (12 indicators), social (28), environmental (7) and sustainable finance (16). The study analyses the sample of 23 countries in 2007, 2013 and 2016. The results confirm a positive relationship among the analysed indicators. On the basis of 62 statistical features selected according to the statistical methods, 7 groups of countries were obtained in 2007 and 2013 and 8 groups in 2016. In the case of Scandinavian countries, one can observe a permanent separation of economic growth from its negative impact on the natural environment. Such dependencies are no longer so obvious in the case of other EU countries belonging to the Organization for Economic Cooperation and Development (OECD). Therefore, attention should be paid to the most economically developed countries in Western Europe, i.e., Belgium, Germany, Luxembourg, the Netherlands and the United Kingdom, whose high rankings in the case of economic, social and very often also financial results correspond to much worse results in the case of environmental development.

scholarly journals Defining and Quantifying National-Level Targets, Indicators and Benchmarks for Management of Natural Resources to Achieve the Sustainable Development Goals

2019 ◽  
Vol 11 (2) ◽  
pp. 462 ◽  
Author(s):  
Chris Dickens ◽  
Vladimir Smakhtin ◽  
Matthew McCartney ◽  
Gordon O’Brien ◽  
Lula Dahir
Keyword(s):  
Sustainable Development ◽  
Natural Resources ◽  
Sustainable Development Goals ◽  
National Level ◽  
Resource Quality ◽  
The Sustainable Development ◽  
Country Level ◽  
2030 Agenda ◽  
Development Goals ◽  
Global Indicators

The 2030 Agenda for Sustainable Development, the Sustainable Development Goals (SDGs), are high on the agenda for most countries of the world. In its publication of the SDGs, the UN has provided the goals and target descriptions that, if implemented at a country level, would lead towards a sustainable future. The IAEG (InterAgency Expert Group of the SDGs) was tasked with disseminating indicators and methods to countries that can be used to gather data describing the global progress towards sustainability. However, 2030 Agenda leaves it to countries to adopt the targets with each government setting its own national targets guided by the global level of ambition but taking into account national circumstances. At present, guidance on how to go about this is scant but it is clear that the responsibility is with countries to implement and that it is actions at a country level that will determine the success of the SDGs. Reporting on SDGs by country takes on two forms: i) global reporting using prescribed indicator methods and data; ii) National Voluntary Reviews where a country reports on its own progress in more detail but is also able to present data that are more appropriate for the country. For the latter, countries need to be able to adapt the global indicators to fit national priorities and context, thus the global description of an indicator could be reduced to describe only what is relevant to the country. Countries may also, for the National Voluntary Review, use indicators that are unique to the country but nevertheless contribute to measurement of progress towards the global SDG target. Importantly, for those indicators that relate to the security of natural resources security (e.g., water) indicators, there are no prescribed numerical targets/standards or benchmarks. Rather countries will need to set their own benchmarks or standards against which performance can be evaluated. This paper presents a procedure that would enable a country to describe national targets with associated benchmarks that are appropriate for the country. The procedure builds on precedent set in other countries but in particular on a procedure developed for the setting of Resource Quality Objectives in South Africa. The procedure focusses on those SDG targets that are natural resource-security focused, for example, extent of water-related ecosystems (6.6), desertification (15.3) and so forth, because the selection of indicator methods and benchmarks is based on the location of natural resources, their use and present state and how they fit into national strategies.

scholarly journals Advances on the Implementation of Circular Economy Techniques in Rural Areas in Colombia under a Sustainable Development Framework

2021 ◽  
Vol 13 (7) ◽  
pp. 3816
Author(s):  
Javier Rodrigo-Ilarri ◽  
Camilo-A. Vargas-Terranova ◽  
María-Elena Rodrigo-Clavero ◽  
Paula-A. Bustos-Castro
Keyword(s):  
Sustainable Development ◽  
Waste Management ◽  
Circular Economy ◽  
Rural Areas ◽  
Development Framework ◽  
Starting Point ◽  
Management Plans ◽  
Good Starting Point ◽  
Depressed Regions ◽  
First Time

For the first time in the scientific literature, this research shows an analysis of the implementation of circular economy techniques under sustainable development framework in six municipalities with a depressed economy in Colombia. The analysis is based on solid waste data production at a local scale, the valuation of the waste for subsequent recycling, and the identification and quantification of the variables associated with the treatment and final disposal of waste, in accordance with the Colombian regulatory framework. Waste generation data are obtained considering three different scenarios, in which a comparison between the simulated values and those established in the management plans are compared. Important differences have been identified between the waste management programs of each municipality, specifically regarding the components of waste collection, transportation and disposal, participation of environmental reclaimers, and potential use of materials. These differences are fundamentally associated with the different administrative processes considered for each individual municipality. This research is a good starting point for the development of waste management models based on circular economy techniques, through the subsequent implementation of an office tool in depressed regions such as those studied.

scholarly journals The Impact of Sustainability Awareness and Moral Values on Environmental Laws

2021 ◽  
Vol 13 (11) ◽  
pp. 5882
Author(s):  
Rita Yi Man Li ◽  
Yi Lut Li ◽  
M. James C. Crabbe ◽  
Otilia Manta ◽  
Muhammad Shoaib
Keyword(s):  
Sustainable Development ◽  
Developing Countries ◽  
Environmental Law ◽  
Developed Countries ◽  
Moral Values ◽  
Web Pages ◽  
Environmental Legislation ◽  
Environmental Laws ◽  
Academic Publications ◽  
The Impact

We argue that environmental legislation and regulation of more developed countries reflects significantly their moral values, but in less developed countries it differs significantly from their moral values. We examined this topic by using the keywords “sustainability” and “sustainable development”, studying web pages and articles published between 1974 to 2018 in Web of Science, Scopus and Google. Australia, Zimbabwe, and Uganda were ranked as the top three countries in the number of Google searches for sustainability. The top five cities that appeared in sustainability searches through Google are all from Africa. In terms of academic publications, China, India, and Brazil record among the largest numbers of sustainability and sustainable development articles in Scopus. Six out of the ten top productive institutions publishing sustainable development articles indexed in Scopus were located in developing countries, indicating that developing countries are well aware of the issues surrounding sustainable development. Our results show that when environmental law reflects moral values for betterment, legal adoption is more likely to be successful, which usually happens in well-developed regions. In less-developed states, environmental law differs significantly from moral values, such that changes in moral values are necessary for successful legal implementation. Our study has important implications for the development of policies and cultures, together with the enforcement of environmental laws and regulations in all countries.

scholarly journals Human Rights in the Least Developed Countries of Asia: An Index for Quantifying Sustainable Development Goal 3 (Good Health and Wellbeing)

2021 ◽  
Vol 18 (9) ◽  
pp. 4747
Author(s):  
Karen G. Añaños Bedriñana ◽  
José Antonio Rodríguez Martín ◽  
Fanny T. Añaños
Keyword(s):  
Sustainable Development ◽  
Maternal Education ◽  
Good Health ◽  
Developed Countries ◽  
Least Developed Countries ◽  
Sustainable Development Goal ◽  
Distance Method ◽  
Development Goal ◽  
Health And Wellbeing ◽  
The Impact

This paper aims to measure disparities among the variables associated with Sustainable Development Goal (SDG) 3 defined by the United Nations (UN) in the least developed countries (LDCs) of Asia. In the terms of the UN Conference on Trade and Development, LDCs are countries with profound economic and social inequalities. The indicator was constructed using a set of variables associated with SDG3: Good Health and Wellbeing. Applying Pena’s DP2 distance method to the most recent data available (2018) enables regional ordering of Asia’s LDCs based on the values of these variables. The index integrates socioeconomic variables that permit examination of the impact of each individual indicator to determine territorial disparities in terms of the partial indicators of SDG3. “Maternal education,” “Proportion of women who make their own informed decisions regarding sexual relations, contraceptive use, and reproductive health care,” and “Gender parity index in primary education” are the most important variables in explaining spatial disparities in good health and wellbeing in the LDCs of Asia.

Environmental Behavior in Cross-National Perspective

2016 ◽  
Vol 49 (1) ◽  
pp. 31-58 ◽  
Author(s):  
Ignacio Pisano ◽  
Mark Lubell
Keyword(s):  
Environmental Behavior ◽  
National Level ◽  
Developed Countries ◽  
Education Development ◽  
Proenvironmental Behavior ◽  
Individual Level ◽  
Country Level ◽  
National Differences ◽  
Cultural Research ◽  
Cross National

This article seeks to explain cross-national differences on environmental behavior. After controlling for a series of sociodemographic and psychosocial factors, it was predicted that national levels of wealth, postmaterialism, education development, and environmental problems are positively related to environmental behavior. The national-level variance is to a substantial degree explained by individual-level variables, capturing compositional effects. The remaining variance is explained by the contextual-level variables. All of the country-level variables are predictors in the expected direction, with the exception of environmental degradation, which is negatively related to behavior, and education development, which has no impact on private environmental behavior. More importantly, cross-level interactions show that in more developed countries, there are stronger relationships between proecological attitudes and reported proenvironmental behavior. These findings contribute to the growing cross-cultural research on environmental behavior pointing out the necessity of simultaneously assessing the effects of both individual and contextual-level forces affecting behavior across nations.

scholarly journals Evaluating the individual- and country-level variations in tax morale

2017 ◽  
Vol 44 (5) ◽  
pp. 816-832 ◽  
Author(s):  
Colin C. Williams ◽  
Besnik Krasniqi
Keyword(s):  
Tax Compliance ◽  
State Intervention ◽  
Developed Countries ◽  
Social Actor ◽  
Actor Model ◽  
Tax Morale ◽  
Content Type ◽  
Country Level ◽  
The One ◽  
The Individual

Purpose Recently, a small but burgeoning literature has argued that tax non-compliance cannot be fully explained using the conventional rational economic actor approach which views non-compliance as occurring when the pay-off is greater than the expected cost of being caught and punished. Instead, a social actor approach has emerged which views tax non-compliance as higher when “tax morale”, defined as the intrinsic motivation to pay taxes, is low. To advance this social actor model, the purpose of this paper is to evaluate the individual and national heterogeneity in tax morale, which is crucial if tax compliance is to be improved. Design/methodology/approach To do this, the authors report data from the 2010 Life in Transition Survey on tax morale in 35 Eurasian countries. Findings Logit econometric analysis reveals, on the one hand, that there is higher tax morale among middle-aged, married, homeowners with children, with a university degree and employed, and on the other hand, that there is higher tax morale in more developed countries with stronger legal systems and less corruption, and higher levels of state intervention in the form of both taxation and expenditure. Research limitations/implications Rather than continue with the rational actor approach, this paper reveals that how an emergent social actor approach can help to more fully explain tax non-compliance and results in a different policy approach focused upon changing country-level economic and social conditions associated with low tax morale and thus non-compliance. Practical implications These results display the specific populations with low tax morale which need targeting when seeking to tackle tax non-compliance. Originality/value This paper provides a new way of explaining and tackling tax non-compliance in Eurasian countries.

Eco-Design of Resort Landscape —Take the Design of Yangmei Island Resort as an Example

2012 ◽  
Vol 598 ◽  
pp. 273-278
Author(s):  
Zhao Gao ◽  
Yue Wu
Keyword(s):  
Sustainable Development ◽  
Landscape Ecology ◽  
Theoretical Basis ◽  
Rapid Development ◽  
Sustainable Use ◽  
Landscape Design ◽  
The People ◽  
Ecological Idea

The landscape design of resort is in the pressing need of implementing ecological idea with which it can be authentically established as the result of sustainable development involving people-oriented idea. The rapid development plus the reasonable application of landscape ecology provide the theoretical basis for the construction of ecotypic resort. Employing the theory of landscape ecology to instruct the landscape construction of resort may guarantee the sustainable use of its resources. The paper explores the fundamental theories and approaches of eco-design of resort landscape with the case of Yangmei Island Resort and elaborates the dominant ecotype idea in the process of designing the resort landscape to practically put the people-oriented idea into effect, aiming at creating a harmonious landscape and optimizing the resort landscape.

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