ASSESSING THE IMPACT OF SOCIALLY RESPONSIBLE INVESTMENTS ON THE SUSTAINABILITY AND STABILITY OF THE POWER SECTOR
Abstract
The article is devoted to the issues of determining the impact of socially responsible investments on the sustainability and stability of energy sector. It has been proven that socially responsible investments have become widespread in global practice, contributing to the growing interest in environmental, social and governance (ESG) aspects. In the energy sector, which is critical to the functioning of the economy, ESG plays a key role in reducing environmental impact and ensuring long-term sustainability. One of the important aspects is to assess the impact of SRI on reducing greenhouse gas emissions, improving energy efficiency and developing renewable energy sources. Particular attention is paid to the study of the characteristics of socially responsible investors who are focused on supporting projects that contribute to the achievement of the UN Sustainable Development Goals. The article identifies quantitative and qualitative criteria for assessing the impact of socially responsible investments in the energy sector and outlines the characteristics of socially responsible investors who invest in sustainable development projects. Investing in projects that have a positive social or environmental impact is one of the main criteria for socially responsible investors. The potential of socially responsible investment in the short and long term is analysed in the context of the economic and decarbonised transition in the use of energy sources. The article analyses strategic prospects for the introduction of innovative technologies in the field of renewable energy, reducing dependence on fossil fuels and improving energy security. The impact of the war in Ukraine on the energy sector is analysed, which is another critical aspect of the study. It is proved that the armed conflict has led to significant destruction of infrastructure and created challenges for ensuring stable energy supply. In this context, socially responsible investments can contribute to the restoration and modernisation of energy infrastructure, the introduction of advanced technologies, and the enhancement of the resilience of the energy system. Overall, the article emphasises importance of integrating socially responsible investments into energy sector development strategies, which contributes to environmental sustainability, economic efficiency and social justice.
References
Дєліні М.М. Соціально-економічна відповідальність підприємництва: теорія, методологія, напрямки розвитку: монографія. Краматорськ: ДДМА, 2017. 451 с.
Майстренко О.В. Соціально відповідальне інвестування: західний досвід. Ефективна економіка. 2015. № 10. URL: http://www.economy.nayka.com.ua/?op=1&z=4393
Рожко А.О. Етичне інвестування в глобальній економіці. Ефективна економіка. 2015. № 4. URL: http://www.economy.nayka.com.ua/?op=1&z=4008
Дяковський Д.А. Соціально-відповідальні інвестиції як перспективний напрям інвестиційної діяльності: сутність і тенденції. Наукові записки НаУКМА. 2016. Т. 185. С. 62–68.
Іванова Т.В. Механізм соціально-відповідального інвестування на підприємстві. Економічний вісник НТУУ «Київський політехнічний інститут». 2021. № 19. С. 160–163.
Jenkins H., Yakovleva N. Corporate Social Responsibility in the Mining Industry: Exploring Trends in Social and Environmental Disclosure. In Special Issue on ‘Improving Environmental, Economic and Ethical Performance in the Mining Industry. Part 1. Environmental Management and Sustainable Development. Journal of Cleaner Production. 2006. Vol. 14(3-4). P. 271–284.
Auer B.R., Schuhmacher F. Do Socially (Ir)responsible Investments Pay? New Evidence from International ESG Data. Quarterly Review of Economics and Finance. 2016. Vol. 59. P. 51–62. DOI: https://doi.org/10.1016/j.qref.2015.07.002
Janik B., Maruszewska K. Valuation of the Environmental Effects of Socially Responsible Investments in Europe. Sustainability. 2020. No. 12. DOI: https://doi.org/10.3390/su12239855
New Energy Outlook 2024: Executive Summary. BloobbergNEF, 2024. 26 p.
World Investment Report 2023: Investing in Sustainable Energy for All. United Nations, 2023. 56 p.
Sustainable Bonds Insight 2023. Environmental Finance, 2023. 68 p.
KSE: Втрати енергетичного сектору України перевищили $56 млрд. Інформаційний портал «Косатка Медіа». URL: https://kosatka.media/category/elektroenergiya/news/kse-vtrati-energetichnogo-sektoru-ukrajini-perevishchili-56-mlrd
Проект Плану відновлення України «Матеріали робочої групи «Енергетична безпека». Національна рада з відновлення України від наслідків війни. Липень 2022. 164 с.
Оцінка стійкості енергетичної інфраструктури України: аналітичний звіт. ГО «Діксі Груп», 2022. 72 с.
Delini M. M. (2017) Sotsialno-ekonomichna vidpovidalnist pidpryiemnytstva: teoriia, metodolohiia, napriamky rozvytku: monohrafiia [Socio-economic responsibility of entrepreneurship: theory, methodology, directions of development: a monograph]. Kramatorsk: DMA, 2017. 451 p. (in Ukrainian)
Maistrenko O. V. (2015) Sotsialno vidpovidalne investuvannia: zakhidnyi dosvid [Socially responsible investment: Western experience.]. Efektyvna ekonomika, no. 10. Available at: http://www.economy.nayka.com.ua/?op=1&z=4393 (in Ukrainian)
Rozhko A. O. (2015) Etychne investuvannia v hlobalnii ekonomitsi [Ethical investing in the global econ]. Efektyvna ekonomika, no. 4. Available at: http://www.economy.nayka.com.ua/?op=1&z=4008 (in Ukrainian)
Diakovskyi D. A. (2016). Sotsialno-vidpovidalni investytsii yak perspektyvnyi napriam investytsiinoi diialnosti: sutnist i tendentsii [Socially responsible investments as a promising direction of investment activity: essence and trends]. Naukovi zapysky NaUKMA, vol. 185. pp. 62–68. (in Ukrainian)
Ivanova T. V. (2021) Mekhanizm sotsialno-vidpovidalnoho investuvannia na pidpryiemstvi [Mechanism of socially responsible investment at the enterprise]. Ekonomichnyi visnyk NTUU «Kyivskyi politekhnichnyi instytut». no. 19. pp. 160–163. (in Ukrainian)
Jenkins H., Yakovleva N. (2006) Corporate Social Responsibility in the Mining Industry: Exploring Trends in Social and Environmental Disclosure. In Special Issue on ‘Improving Environmental, Economic and Ethical Performance in the Mining Industry. Part 1. Environmental Management and Sustainable Development’. Journal of Cleaner Production. no 14(3-4). pp. 271–284.
Auer B. R., Schuhmacher F. (2016) Do Socially (Ir)responsible Investments Pay? New Evidence from International ESG Data. Quarterly Review of Economics and Finance. vol. 59. pp. 51–62. DOI: https://doi.org/10.1016/j.qref.2015.07.002
Janik B. Maruszewska K. (2020) Valuation of the Environmental Effects of Socially Responsible Investments in Europe. Sustainability. vol. 12. DOI: https://doi.org/10.3390/su12239855
New Energy Outlook (2024) Executive Summary. BloobbergNEF. 26 p.
World Investment Report (2023) Investing in Sustainable Energy for All. United Nations. 56 p.
Sustainable Bonds Insight (2023) Environmental Finance. 68 p.
KSE: Vtraty enerhetychnoho sektoru Ukrainy perevyshchyly $56 mlrd. [KSE: The losses of Ukraine's energy sector exceeded $56 billion]. Kosatka Media. Available at: https://kosatka.media/category/elektroenergiya/news/kse-vtrati-energetichnogo-sektoru-ukrajini-perevishchili-56-mlrd (in Ukrainian)
Draft Recovery Plan for Ukraine, Materials of the Energy Security Working Group. National Council for the Reconstruction of Ukraine from the Consequences of the War. (July 2022). 164 p. (in Ukrainian)
Assessment of the resilience of Ukraine's energy infrastructure: analytical report. Dixie Group. (2022). 72 p. (in Ukrainian)
