Economic Assessment of CO2 Emissions in the Environmental Section of ESG

Viktor Gazman
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Viktor Gazman: National Research University Higher School of Economics, Moscow, Russia

HSE Economic Journal, 2022, vol. 26, issue 4, 579–597

Abstract: The article presents the results of the conducted research, the purpose of which was to develop recommendations for the use of socio-economic benefits from the use of wind and solar energy in the environmental section of ESG instead of the most toxic generation – coal. On the basis of theoretical assumptions, the methodology developed by the author for determining the achieved savings is described in detail on the example of the largest energy enterprises Enel, Eni. The article presents not only the author's model, but also the calculations themselves with comments. The calculations carried out were carried out on the basis of the actual amount of carbon dioxide emissions charges, taking into account the damage caused, the number of people saved from premature death due to harmful emissions into the atmosphere, the economic cost of lives determined by the World Bank by country, the costs of treating emerging concomitant diseases, the social discount rate. This makes it possible to determine the real socio-economic effect of replacing fossil energy sources with cleaner energy carriers. The argumentation refuting the argument about the occurrence of a significant increase in costs in the economy, which may arise due to the introduction of a fixed fee for harmful emissions, is presented. This allows you to set more accurate benchmarks and indicators in the environmental section of the ESG system and use them in attracting investors, forming ratings, and training specialists.

Keywords: ESG; wind and solar energy; social cost of carbon; economic cost of living; social discount rate (search for similar items in EconPapers)
JEL-codes: G31 Q20 Q40 Q41 Q42 Q43 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:hig:ecohse:2022:4:4

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