Effective Financial Solutions for Sustainable Infrastructure Development
DOI: 10.34130/2070-4992-2020-3-135
Lvova N. A. — Doctor of Economic Sciences, Associate Professor, Professor of the Chair of Credit Theory and Financial Management, Saint Petersburg State University, Saint Petersburg, Russia, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
The article addresses the systematization of effective financial solutions for the development of sustainable infrastructure. To this purpose, the concept of sustainable infrastructure is defined, a general characteristic of relevant financial solutions for the development of sustainable infrastructure is given, and tools for implementing relevant financial solutions are classified. The theoretical basis of the research is built on the approaches to infrastructure definition introduced by the World Bank, the World Economic Forum, and the United Nations. In particular, the concept of infrastructure sustainability in the research considers the meaning that is applied in the UN system of sustainable development goals. Accordingly, infrastructure sustainability is understood as the result of improved resource efficiency and increased use of clean and environmentally friendly technologies and industrial processes. The research methodology, in turn, is based on the materials of the United Nations Development Programme project "SDG Financing Solutions". These materials are applied to classify and analyze financial solutions that are relevant to achieving the sustainable development Goal 9 "Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation". The scientific contribution of the research is to clarify the criteria for choosing effective financial solutions for sustainable infrastructure development. Thus, effective financial solutions for the development of sustainable infrastructure are defined as solutions for financing, financial regulation and (or) risk management of high-quality investment projects that are relevant: a) in the context of the sustainable development goals; b) in relation to instrumental characteristics; c) taking into account the potential for mobilizing public and business resources (financial, expert, organizational). The algorithm for selecting these solutions should correspond to the project specifics and international standards for sustainable infrastructure, which requires a separate justification and determines the direction of future research.
Keywords: sustainable infrastructure, sustainable finance, sustainable development, responsible investment, blended financing.
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For citation: Lvova N. A. Effective financial solutions for sustainable infrastructure development // Corporate Governance and Innovative Economic Development of the North. Bulletin of Research Center of Corporate Law, Management and Venture Investment of Syktyvkar State University. 2020. No. 3. Р. 135—140. DOI: 10.34130/2070-4992-2020-3-135.