Financing Climate Change in a “Smart” Region for Security: A Fiscal Framework Against Private Investment

Vladimir Osipov, Sergei B. Chernov, Aleksandra V. Zakharova and Natalia N. Nikolashina
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Sergei B. Chernov: State University of Management
Aleksandra V. Zakharova: State University of Management
Natalia N. Nikolashina: National Research University “Higher School of Economics”

A chapter in Industry 4.0, 2022, pp 215-221 from Springer

Abstract: Abstract Purpose: The purpose of the research is to develop a model for climate finance in a “smart” region for environmental safety. Design/methodology/approach: The research is carried out on the example of “smart” regions of modern Russia. The correlation of the environmental safety index (as an indicator of the effectiveness of the fight against climate change) with the state’s expenditure on environmental protection and the share of organizations implementing environmental innovations is determined. Findings: It is justified that the financing of the fight against climate change in the “smart” cities of Russia is fragmented and not optimal, and the prospects for its improvement are associated with the simultaneous use of both the fiscal and private-investment mechanisms. To this end, a model based on public–private partnerships has been developed, thereby providing a flexible combination of both mechanisms. Originality/value: A model for financing climate change in a “smart” region for security has been developed, based on public–private partnerships, the benefits of which are, firstly, the gradual transfer of the burden from private business to the state with maximum savings in the regional budget. Secondly, the simultaneous use of both the fiscal and private-investment mechanisms with the cooperation (partnership) of public administration bodies in the region and regional entrepreneurship. Third, taking advantage of the smart region’s capabilities to best identify the region’s needs for climate finance and to identify the best sources of financing for climate finance at each stage of the model.

Keywords: Financing the fight against climate change; Smart region; Environmental security; Fiscal mechanism; Private investment mechanism; Public–private partnership; Q01; Q51; Q52; Q53; Q54; Q55; Q56; Q57; Q58; O31; O32; O33; O38 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-79496-5_20

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DOI: 10.1007/978-3-030-79496-5_20

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