IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v13y2021i21p11590-d660656.html

Economic Incentives for Environmental Investment in Modern Russia

Author

Listed:
  • Ludmila Aleksandrovna Kormishkina

    (Department of Economics, Ogarev Mordovia State University, Saransk 430005, Russia)

  • Evgenii Danilovich Kormishkin

    (Department of Economics, Ogarev Mordovia State University, Saransk 430005, Russia)

  • Oksana Sergeevna Sausheva

    (Department of Economics, Ogarev Mordovia State University, Saransk 430005, Russia)

  • Dmitrii Aleksandrovich Koloskov

    (Department of Economics, Ogarev Mordovia State University, Saransk 430005, Russia)

Abstract

This paper is relevant due to the critical need for changing the consumption-oriented economic growth model to an investment one for the long-term sustainable development of Russia, considering global environmental challenges. Environmental investments (EIs), responsible and transformative, are positioned as the growth driver. The study aims to assess the mechanism of environmental investment (EI) in modern Russia, determine limitations, and form the resource-saving principles adequate to the latest challenges. The developed regression models of EI resource potential indicate the inability in the current institutional environment to provide the amount of financing required to form a green economy in Russia. This work justifies the need to establish an integrated mechanism for EI economic incentives to increase their amount in the private sector and obtain socio-economic benefits (natural capital maintenance, efficient resource use, and poverty and unemployment reduction). Based on the world’s best practice analysis of state support for EI market instruments, it sets out proposals to establish this mechanism in Russia and confirms the need to create conditions in which it is more profitable for economic agents to invest in reducing their ecological footprint. This paper proves that EIs promotion should combine positive and negative motivation, engagement, and responsibilities.

Suggested Citation

  • Ludmila Aleksandrovna Kormishkina & Evgenii Danilovich Kormishkin & Oksana Sergeevna Sausheva & Dmitrii Aleksandrovich Koloskov, 2021. "Economic Incentives for Environmental Investment in Modern Russia," Sustainability, MDPI, vol. 13(21), pages 1-12, October.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:21:p:11590-:d:660656
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/13/21/11590/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/13/21/11590/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Belmonte-Ureña, Luis Jesús & Plaza-Úbeda, José Antonio & Vazquez-Brust, Diego & Yakovleva, Natalia, 2021. "Circular economy, degrowth and green growth as pathways for research on sustainable development goals: A global analysis and future agenda," Ecological Economics, Elsevier, vol. 185(C).
    2. Felipe Arias Fogliano de Souza Cunha & Erick Meira & Renato J. Orsato, 2021. "Sustainable finance and investment: Review and research agenda," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3821-3838, December.
    3. Trainer, Ted, 2020. "De-growth: Some suggestions from the Simpler Way perspective," Ecological Economics, Elsevier, vol. 167(C).
    4. Ludmila Kormishkina & Evgenii Kormishkin & Vladimir Gorin & Dmitrii Koloskov & Ludmila Koroleva, 2019. "Environmental investment: the most adequate neo-industrial response to the growth dilemma of the economy," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 929-948, December.
    5. Corlet Walker, Christine & Druckman, Angela & Jackson, Tim, 2021. "Welfare systems without economic growth: A review of the challenges and next steps for the field," Ecological Economics, Elsevier, vol. 186(C).
    6. Gudrun Erla Jonsdottir & Throstur Olaf Sigurjonsson & Ahmad Rahnema Alavi & Jordan Mitchell, 2021. "Applying Responsible Ownership to Advance SDGs and the ESG Framework, Resulting in the Issuance of Green Bonds," Sustainability, MDPI, vol. 13(13), pages 1-20, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Koskimäki, Teemu, 2023. "Targeting socioeconomic transformations to achieve global sustainability," Ecological Economics, Elsevier, vol. 211(C).
    2. Corvellec, Hervé & Paulsson, Alexander, 2023. "Resource shifting: Resourcification and de-resourcification for degrowth," Ecological Economics, Elsevier, vol. 205(C).
    3. Yanjie Jiang & Xiaodi Ding, 2025. "Exploring the Nexus Between Ecosystem Services and Economic Sustainability: A Stakeholder Perspective," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(3), pages 3639-3658, May.
    4. Muntasir Murshed, 2026. "Settling Geopolitical Disputes and Overcoming the Carbon Curse to Establish Environmental Sustainability in Asia: A Quantile Regression Analysis," Sustainable Development, John Wiley & Sons, Ltd., vol. 34(2), pages 2780-2801, April.
    5. zu Ermgassen, Sophus & Drewniok, Michal & Bull, Joseph & Walker, Christine Corlet & Mancini, Mattia & Ryan-Collins, Josh & Serrenho, André Cabrera, 2022. "A home for all within planetary boundaries: pathways for meeting England’s housing needs without transgressing national climate and biodiversity goals," OSF Preprints 5kxce, Center for Open Science.
    6. Talwar, Shalini & Kaur, Puneet & Escobar, Octavio & Lan, Sai, 2022. "Virtual reality tourism to satisfy wanderlust without wandering: An unconventional innovation to promote sustainability," Journal of Business Research, Elsevier, vol. 152(C), pages 128-143.
    7. Mercedes Rubio-Andrés & Santiago Gutiérrez-Broncano & Jorge Linuesa-Langreo & Miguel Ángel Sastre-Castillo, 2025. "Exploring the reality of corporate sustainability strategy and sales performance in entrepreneurial SMEs: the mediating effect of innovation and sustainability performance," International Entrepreneurship and Management Journal, Springer, vol. 21(1), pages 1-34, December.
    8. Bärnthaler, Richard, 2024. "Problematising degrowth strategising: On the role of compromise, material interests, and coercion," Ecological Economics, Elsevier, vol. 223(C).
    9. Joan Hereu-Morales & César Valderrama, 2022. "Towards a Sustainability-Based Society: An Analysis of Fundamental Values from the Perspective of Economics and Philosophy," Sustainability, MDPI, vol. 14(14), pages 1-14, July.
    10. Aurore, Fransolet & Marek, Hudon & Adriano, La Gioia & Meyer, Sandrine, 2026. "Mapping visions of a just transition: A Q survey of Belgian stakeholders," Ecological Economics, Elsevier, vol. 239(C).
    11. Olivier Boiral & Marie‐Christine Brotherton & David Talbot, 2024. "What you see is what you get? Building confidence in ESG disclosures for sustainable finance through external assurance," Business Ethics, the Environment & Responsibility, John Wiley & Sons, Ltd., vol. 33(4), pages 617-632, October.
    12. Yuxue Yang & Xuejiao Tan & Yafei Shi & Jun Deng, 2023. "What are the core concerns of policy analysis? A multidisciplinary investigation based on in-depth bibliometric analysis," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-12, December.
    13. Engler, John-Oliver & Kretschmer, Max-Friedemann & Rathgens, Julius & Ament, Joe A. & Huth, Thomas & von Wehrden, Henrik, 2024. "15 years of degrowth research: A systematic review," Ecological Economics, Elsevier, vol. 218(C).
    14. Richard Yeaw Chong Seow, 2026. "Navigating the Convergence of SDGs and ESG: Insights from a Systematic Literature Review," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 38(2), pages 289-324, April.
    15. Fabio De Felice & Antonella Petrillo, 2021. "Green Transition: The Frontier of the Digicircular Economy Evidenced from a Systematic Literature Review," Sustainability, MDPI, vol. 13(19), pages 1-26, October.
    16. García-García, Pablo & Buendía, Luis & Carpintero, Óscar, 2022. "Welfare regimes as enablers of just energy transitions: Revisiting and testing the hypothesis of synergy for Europe," Ecological Economics, Elsevier, vol. 197(C).
    17. Kang Liu, 2025. "Contested circular economy and mixed social implications from practice: A scoping review," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(2), pages 2154-2170, April.
    18. Giuseppe Craparo & Elisa Isabel Cano Montero & Jesús Fernando Santos Peñalver, 2024. "Trends in the circular economy applied to the agricultural sector in the framework of the SDGs," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(10), pages 26699-26729, October.
    19. Rui Coelho & Shital Jayantilal & Joao J. Ferreira, 2023. "The impact of social responsibility on corporate financial performance: A systematic literature review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1535-1560, July.
    20. Pervin Ersoy & Gülmüş Börühan & Sachin Kumar Mangla & Jorge Hernandez Hormazabal & Yigit Kazancoglu & Çisem Lafcı, 2022. "Impact of information technology and knowledge sharing on circular food supply chains for green business growth," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 1875-1904, July.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:13:y:2021:i:21:p:11590-:d:660656. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager The email address of this maintainer does not seem to be valid anymore. Please ask MDPI Indexing Manager to update the entry or send us the correct address (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.