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Road to green future - Decision making model for the environmental and energy sector

Author

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  • Bârsan Alexandra Teodora
  • Pop Mihai

    (The Bucharest University of Economic Studies, Faculty of Business Administration in Foreign Languages, Bucharest, Romania)

Abstract

The mitigation of greenhouse gas emissions has become one of the most important topics on the agenda of EU- and national policy-makers. The importance of the climate change issue is exponentially growing from year to year, gathering specialist from the academic, economic and energy fields in the hope of finding the best solutions in fighting the negative effects of the phenomenon. This challenge has issued an intense debate around the doctrines on which policymakers ground the process of law making. Two of the most debated theories are the neoclassic economic doctrines, on which the major part of the climate change regulation is based, and the innovation economic doctrines, which gained a lot of popularity and supporters in the academic field for the last couple of years. The paper presents the advantages and opportunities of current climate change legislation, as well as their disadvantages and limits. Furthermore it focuses on emphasizing common issues that lead to the failure of climate change legislation and implicitly cause economic loss, lowering the attractiveness of future investments. Based on our research we have developed a decision making model for legislation and regulations of the environmental and energy sectors. The developed model offers guidelines to policy-makers of the energy field and aims both environmental and economic sustainability.

Suggested Citation

  • Bârsan Alexandra Teodora & Pop Mihai, 2018. "Road to green future - Decision making model for the environmental and energy sector," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 12(1), pages 103-113, May.
    • Handle: RePEc:vrs:poicbe:v:12:y:2018:i:1:p:103-113:n:11
    DOI: 10.2478/picbe-2018-0011
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    References listed on IDEAS

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    1. Robert D. Atkinson & David B. Audretsch, 2010. "Economic Doctrines and Innovation Policy," Innovations: Technology, Governance, Globalization, MIT Press, vol. 5(1), pages 163-206, January.
    2. Rogall, Holger & Oebels, Kerstin, 2010. "Von der Traditionellen zur Nachhaltigen Ökonomie," Working Papers 53, Berlin School of Economics and Law, Institute of Management Berlin (IMB).
    3. Nicholas Stern, 2008. "The Economics of Climate Change," American Economic Review, American Economic Association, vol. 98(2), pages 1-37, May.
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