Designing an effective eco-economic integration mechanism for sectoral projects within a diversified investment program
DOI:
https://doi.org/10.32347/2707-501x.2023.52(3).283-302Keywords:
ecological and economic integration, investment program, construction, management, methods, industry projects, housing construction, ESG, sustainable development, environmental KPIs, digital analytics, Life Cycle Assessment, multi-criteriaAbstract
This article addresses the development of an effective mechanism for eco-economic integration of sectoral projects into a diversified investment program. The focus is placed on the necessity of combining environmental responsibility with economic feasibility in forming an investment portfolio under conditions of dynamic changes in resource availability, regulatory frameworks, and global sustainable development challenges. In the context of decentralization, digitalization of governance, and the energy transition, the role of environmentally oriented approaches to structuring investment programs is growing—programs that incorporate projects from various sectors, ranging from construction to industry and energy.
The study proposes a conceptual model of a mechanism that synchronizes environmental, economic, and managerial criteria using advanced analytical tools (BI, ESG monitoring, LCA analysis). This enables not only the evaluation of each project’s potential but also the construction of integrated programs that account for the interaction between portfolio components. The paper outlines four stages of implementing such a mechanism: diagnostics of sectoral projects, integration of environmental KPIs into the investment evaluation system, multi-criteria selection considering risk factors, and program balance management through digital control panels.
A matrix structure is proposed for analyzing the synergy between the environmental impacts of projects and their economic performance, which helps to avoid goal conflicts and improve the overall efficiency of the investment program. The fundamental principles for constructing the mechanism are identified: scientific validity, adaptability, transparency, multi-sectoral applicability, and digital validation. The novelty lies in combining ecological and financial modeling within a unified decision-making platform. The results of the research may be applied by public administration bodies, institutional investors, international donors, and corporations implementing sustainability strategies within portfolio-based planning frameworks.
References
Costanza R., d’Arge R., De Groot R. et al. The value of the world’s ecosystem services and natural capital. – Nature, 1997. – Vol. 387, pp. 253–260. – [Electronic resource]. – Access mode: https://www.nature.com/articles/387253a0
Dasgupta, P. The Economics of Biodiversity: The Dasgupta Review. – HM Treasury, 2021. – [Electronic resource]. – Access mode: https://www.gov.uk/government/ publications/final-report-the-economics-of-biodiversity-the-dasgupta-review
Stern, N. The Economics of Climate Change: The Stern Review. – HM Treasury, 2006. – [Electronic resource]. – Access mode: http://mudancasclim aticas.cptec.inpe.br/~rmclima/pdfs/destaques/sternreview_report_complete.pdf
Silvius G., Tharp J. Sustainability Integration for Effective Project Management. – Monograph. – Hershey: IGI Global, 2013. – 399 p. – [Electronic resource]. – Access mode: https://books.google.com/books/ about/Sustainability_Integration_for_Effective.html?id=1dieBQAAQBAJ
Kurowski L., Sussman D. Investment Project Design: A Guide to Financial and Economic Analysis with Constraints. – Monograph. – Hoboken: Wiley, 2011. – 288 p. – [Electronic resource]. – Access mode: https://www.amazon.com/ Investment-Project-Design-Financial-Constraints/dp/0470913894
Kumar P. (Ed.). The Economics of Ecosystems and Biodiversity: Ecological and Economic Foundations. – Monograph. – London: Routledge, 2010. – 456 p. – [Electronic resource]. – Access mode: https://www.routledge.com/The-Economics-of-Ecosystems-and-Biodiversity-Ecological-and-Economic-Foundations/Kumar/p/book/9780415501088
Jackson T. Prosperity Without Growth: Foundations for the Economy of Tomorrow. – Monograph. – Abingdon: Routledge, 2017. – 310 p. – [Electronic resource]. – Access mode: https://www.routledge.com/Prosperity-Without-Growth-Foundations-for-the-Economy-of-Tomorrow/Jackson/p/book/ 9781138935 419
World Commission on Environment and Development (WCED). Our Common Future. – Report. – Oxford: Oxford University Press, 1987. – 400 p. – [Electronic resource]. – Access mode: https://sustainabled evelopment.un.org/content/documents/5987our-common-future.pdf
Dyllick T., Muff K. Clarifying the Meaning of Sustainable Business: Introducing a Typology from Business-as-Usual to True Business Sustainability. – Organization & Environment, 2016. – Vol. 29(2), pp. 156–174. – [Electronic resource]. – Access mode: https://journals.sagepub.com/doi/abs/10.1177/1086026615575176
Guinée J. B. (Ed.) Handbook on Life Cycle Assessment: Operational Guide to the ISO Standards. – Monograph. – Dordrecht: Springer, 2002. – 692 p. – [Electronic resource]. – Access mode: https://link.springer.com/book/10.1007/0-306-48055-7
Еколого-економічні розрахунки систем енергозабезпечення будівель і споруд : методичні вказівки до виконання розрахункоко-графічної роботи / Київ. нац. ун-т буд-ва і архіт. ; укладачі : К. М. Предун, О. А. Дудніков, О. Б. Почка. – Київ : КНУБА, 2023. – 60 с..
Giese G., Lee L.-E., Melas D., Nagy Z., Nishikawa L. Foundations of ESG Investing: How ESG Affects Equity Valuation, Risk, and Performance. – MSCI Research Insight, 2019. – [Electronic]. – Access mode: https://www.msci. com/documents/10199/04d0b6ee-d994-2ba1-35e8-dcef28786a84
Чуприна Ю. А. Аналіз систем прийняття економіко–управлінських рішень бізнес–портфеля підприємства / Ю. А. Чуприна, О. С. Болебрух, А. Є. Ровенський, А. Є. Деркач, Д. А. Гуляєв // Формування ринкових відносин в Україні. - 2021. - № 1. - С. 64-72.
I. Chupryna, R. Tormosov, A. Aryn, M. Horbach, D. Prykhodko and M. Polzikov, "The Updated Tool for Selecting Projects for the Target Programs of Sustainable Energy Development," 2023 IEEE International Conference on Smart Information Systems and Technologies (SIST), Astana, Kazakhstan, 2023
United Nations Environment Programme Finance Initiative (UNEP FI). Principles for Positive Impact Finance. – Geneva: UNEP FI, 2017. – [Електронний ресурс]. Режим доступу: https://www.unepfi.org/wordpress/wp- content/uploads/2017/01/POSITIVE-IMPACT-PRINCIPLES-AW-WEB.pdf
Мельник Л. Г., Ільїн В. В. Економіка сталого розвитку: навчальний посібник. – Суми: СумДУ, 2019. – 406 с.
DataPARC. Optimizing ESG Compliance with Environmental Data Software. – Article. – DataPARC Blog, 2023. – [Electronic resource]. – Access mode: https://www.dataparc.com/blog/environmental-software-esg-compliance/
Downloads
Published
How to Cite
Issue
Section
License

This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).