Thesis (Ph. D. Commerce (Accounting)) -- University of Limpopo, 2016 / The purpose of this study was to determine the factors which spur corporate green investment practices amongst firms listed on the Johannesburg Stock Exchange (JSE). The data were sourced from companies’ annual sustainability reports over a period of five years (2010 to 2014) and were subjected to content analysis. This quantitative study adopted a multiple case research approach as it examined all 100 South African CDP companies listed on the JSE. Data analysis was conducted using Chi-Square tests, together with Phi and Cramer’s V tests. The findings indicate that legislation influences the corporate green investment practices of JSE listed firms as do corporate image, profitability and environmental consciousness. Legislation, corporate image, profitability and environmental consciousness showed a significant relationship with the green investment practices of JSE listed firms. Furthermore, the number of JSE listed firms which supported each of these variables as a factor which promoted firm green investment practices steadily increased during the period 2010 to 2014. This study makes a modest contribution to knowledge by suggesting a framework to understand corporate green investment practice in JSE listed firms based on the study’s findings and a review of the literature. Arising from this framework, suggestions are made for further research to scrutinise how a combination of the four determinants of firm green investment practice could influence corporate eco-efficiency, firms’ engagement in green operations and markets, corporate environmental compliance and the incorporation of environmental performance measures in corporate performance measurement systems. KEY CONCEPTS: Environmental legislation; Corporate image; Profitability; Environmental consciousness; Green investment practices;Environmental legislation JSE listed firms.

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It is universally acknowledged that environmental protection has become one of the most pressing global issues in the last decades. Green technology is indispensable to finding less damaging alternatives, and no innovation is carried out without investment. In contribution to environmental economics, the purpose of this thesis is to provide empirical evidence on whether green investment has a relationship with eco-innovation in the European Union (EU). The study draws on a theoretical framework that combines Romer's endogenous growth theory and the Ecological Modernization theory. Based on this framework, the hypothesis expected is a positive impact of green investment on eco-innovation. The analysis utilizes data on environmental protection investment as a measure of green investment, and environmental-related technology patents as a measure of eco-innovation. A panel data analysis is conducted from the years 2013 to 2019 on EU countries, employing random effects model to regress the relationship between the two variables. The results provide statistically significant evidence that green investment has a positive impact on eco-innovation.

Darbo objektas – „žalioji“ investavimo sistema. Darbo tikslas – ištirti „žaliosios“ investavimo sistemos įgyvendinimo galimybes Lietuvoje. Darbo uždaviniai: remiantis mokslinės literatūros analize, atskleisti „žaliosios“ investavimo sistemos sampratą; išnagrinėti užsienio šalių patirtį kuriant ŽIS; remiantis Aplinkos ministerijos pateikiamais duomenimis, sudaryti ŽIS įgyvendinimo Lietuvoje galimybių tyrimo modelį; atlikti ŽIS įgyvendinimo galimybių Lietuvoje empirinio tyrimo modelio įvertinimą bei nustatyti pagrindines ŽIS įgyvendinimo Lietuvoje galimybes ir kliūtis. „Žalioji“ investavimo sistema yra naujas finansinis mechanizmas, kurio dėka pajamos, gautos iš nustatytosios normos vienetų pardavimo, yra toliau investuojamos į šiltnamio dujų mažinimą. Atlikus ekspertų apklausą, nustatyta, kad Lietuvoje tikslingiausia skirti 80 proc. „sunkaus“ ir 20 proc. „lengvo žalinimo“ projektams. Lietuvoje yra daug neišnaudotų energijos efektyvumo didinimo ir atsinaujinančių išteklių kūrimo galimybių, o stiprioji ŽIS pusė yra jau veikianti Lietuvoje teisinė bazė ir institucinė sistema. Tyrimas parodė, kad per mažai žmogiškųjų išteklių panaudojama ŽIS kūrimui, tobulinimui ir valdymui ir LAAIF yra silpnas žmogiškųjų gebėjimų ir kompetencijos. Nustatyta, kad Lietuva sugebės laiku parduoti tik dalį, o ne visą NNV perteklių. Kadangi Lietuva turi galimybių įgyvendinti ŽIS, ji gali sėkmingai dalyvauti tarptautiniame klimato kaitos kapitalistiniame žaidime pasinaudodama šiuo naujuoju finansiniu... [toliau žr. visą tekstą] / An object of the work – “green” investment scheme. The aim of the work - to research the potentialities of implementation of “green” investment scheme in Lithuania. Tasks of the work: on the basis of scientific literature analysis to specify the concept of the “green” investment scheme; to consider the foreign experience in developing GIS; based on data, supplied by the Ministry of the Environment, to create the model of opportunities for implementation GIS in Lithuania; to execute the assessment of empirical study model of GIS Implementation opportunities in Lithuania and to identify the key opportunities and barriers of GIS implementation in Lithuania. “Green” investment scheme is a new financial mechanism, by which the income from sale of the assigned amount units is being further invested in a greenhouse gas reduction. Executing experts survey, identified that dedicating 80 percent for “hard” and 20 percent for “soft greening” projects is the most appropriate variant in Lithuania. In Lithuania is a lot of unused energy efficiency and renewable resource development opportunities and a strong GIS side is already operating legal framework and institutional framework of Lithuania. The study showed that too little human resources is being used for GIS design, development and management and LEIF is weak of human capacity and competence. It was found that Lithuania will be able to sell only a part, but not all AAU surplus. Since Lithuania has the opportunities to implement GIS... [to full text]

Energieffektivisering av byggnadsbeståndet är en viktig del av EU:s klimatarbete, och systemet med energideklarationen (EPC) är ett centralt politiskt verktyg för ändamålet. Forskningen om hur EPC påverkat fastighetsmarknaden är dock inte helt entydig. Fastän statistisk forskning huvudsakligen tyder på ett samband mellan en högre energiklass och en högre köpeskilling, marknadsförs inte energiklassen som en lönsam grön strategi. Genom att intervjua svenska fastighetsaktörer om deras syn på och användning av energideklarationen ämnar denna studie undersöka om EPC-märkningen (energiklassen), som ingår som ett obligatorium i alla försäljnings- och hyresannonser, spelar någon roll för betalningsvilja och investeringsbeslut. I det fall det finns en lönsamhet i energieffektivitet borde energideklarationen vara ett värdefullt informationsverktyg. Den borde dessutom leda till en kontinuerlig förbättring av energiklasserna i det svenska byggnadsbeståndet och på lång sikt bidra till att uppnå klimatmål på nationell och internationell nivå. År 2022 väntas tillägg till befintlig EU-lagstiftning som kommer öka fokus på energieffektivisering för att uppnå de globala klimatmålen, vilket gör det än mer angeläget att utreda EPC-systemets tillämpning och potentiella fördelar på den svenska fastighetsmarknaden. Resultaten av denna studie visar att EPC-märkningen inte har haft en speciellt stor inverkan på marknaden sedan den infördes eftersom den inte skapar ekonomiska incitament att investera i energieffektivitet, och de energieffektiviseringsåtgärder som deklarationen föreslår är alltför generiska och bristfälliga. På det hela taget har deklarationen en svag ställning och är för närvarande främst begränsad till en formalitet. Värdet av en bra energiklass kommer dock sannolikt att öka till följd av implementeringen av EU-taxonomin, och denna ökning beror till stor del på de finansiella fördelar en bra energiklass kan medföra. Resultaten i denna uppsats ifrågasätter ett energiklassningssystem i Sverige som inte fungerar som det ska eftersom det inte bidrar till att öka energieffektiviteten i det svenska byggnadsbeståndet, och understryker vikten av kompletterande politik som kan uppmuntra investeringar i rätt riktning. / Improving the energy efficiency of the building stock is an important part of the EU's climate work, and the Energy Performance Certificate (EPC) scheme is a key policy tool for this purpose. Research on the impact of the Energy Performance Certificates (EPC) on the real estate market is not entirely clear. While statistical research mainly suggests a correlation between a better energy class and a higher price, the energy class is not being marketed as a profitable green strategy. By interviewing Swedish real estate actors about their views on the energy performance certificate (EPC) this study seeks to investigate whether the EPC label, which is included as a mandatory element in all sales and rental advertisements, plays a role in willingness to pay and investment decisions. If there is a profitability in energy efficiency, the EPC should be a valuable information tool. In addition, it should lead to a continuous improvement of the energy performance of the Swedish building stock, and in the long term contribute to achieving climate goals at national and international level. In 2022, amendments to existing EU legislation are expected that will increase the focus on energy efficiency to achieve the global climate goals, making it even more urgent to investigate the application and potential benefits of the EPC scheme in the Swedish real estate market. The result of this study shows that the EPC label has not had a significant impact on the market since its introduction, since it does not create financial incentives to invest in energy efficiency and since the energy efficiency improvement measures proposed by the declaration are too generic and insufficient. On the whole, the energy performance certificate has a weak position and is currently mainly limited to a formality. However, the value of a good energy class is likely to increase as a result of the implementation of the EU taxonomy, and this transition is largely dependent on the financial benefits a good energy rating can bring. The findings of this paper call into question an energy labeling scheme in Sweden that is not working as it should, that is, to increase energy efficiency in the Swedish building stock, and underline the importance of complementary policies that can encourage investment in the right direction.