Development of environmental regulations and benefits on enterprises
2017
Jirgens, M., BA School of Business and Finance, Riga (Latvia) | Atstaja, D., BA School of Business and Finance, Riga (Latvia)
The Porter Hypothesis is one of the most controversial views and has received a lot of attention since it was written by M.Porter in 1991. His ideas were strikingly similar to some of the environmental policies developed in Latvia since 1990’s. There have been advanced market based environmental regulations implemented in Latvia, and as current data shows, it was quite beneficial to the private enterprises as well as state and municipal entities. As monitoring data for Climate Change Financial Instrument implementation have become more available there were opportunities for analysis of them and also in relation to Porter Hypothesis statements. This research article provides analysis of the benefits to the enterprises participating in the specific environmental programme as well as public sector entities during the programme. Total impact of the programme based on the European Commission guidelines on Cost Benefit Analysis and European Investment Bank value estimates were calculated, and further research was analysed. In addition to intangible benefits, the results show clear financial benefits to the enterprises and public sector.
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