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On the Feasibility of Using the Environmental Performance Index to Assess the Level of Socio-ecological Development of Russian Regions

Author

Listed:
  • Zhanna A. Mingaleva

    (Perm National Research Polytechnic University, Perm, Russian Federation)

  • Irina A. Nikitina

    (International Banking Institute named after Anatoly Sobchak, St. Petersburg, Russian Federation; RANEPA, Moscow, Russian Federation)

  • Inna A. Kruglova

    (International Banking Institute named after Anatoly Sobchak, St. Petersburg, Russian Federation; RANEPA, Moscow, Russian Federation)

Abstract

Introduction: Investment decisions by many private and institutional investors are made taking into account the information (current estimates, forecasts, trends) contained in various country ratings regularly published by leading international financial and regulatory organizations (IMF, IBRD, UN), which allows investors to assess the level of risk and return on investment in various projects in these countries. The article evaluates the Environmental Performance Index (EPI), the most common in international studies, from the point of view of its use as a comprehensive tool for comparative analysis and an indicator for assessing the success of achieving the goals of sustainable social and environmental development of Russian regions. Purpose: Analysis of the feasibility of using EPI and its individual elements as part of an integrated approach to assessing the effectiveness of social and environmental development of Russia and its regions. Results: The authors reviewed the transformation of the methodology for calculating EPI over the entire period of its compilation; analyzed the dynamics of indicators, directions and blocks that make up the Index; assessed their adequacy to the geographical and sectoral features of social and environmental development. Conclusions: An extremely high level of politicization of the Index and inconsistency of its calculation methodology with the real conditions of Russia’s economic development were revealed. The inexpediency of its use in the present conditions to assess the social and environmental development of Russian regions, to build a rating of their sustainable development, to develop criteria for evaluating the effectiveness of environmental programs and projects, including in the field of green and environmental investments, was proved.

Suggested Citation

  • Zhanna A. Mingaleva & Irina A. Nikitina & Inna A. Kruglova, 2023. "On the Feasibility of Using the Environmental Performance Index to Assess the Level of Socio-ecological Development of Russian Regions," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 98-111, August.
    • Handle: RePEc:fru:finjrn:230406:p:98-111
    DOI: 10.31107/2075-1990-2023-4-98-111
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    References listed on IDEAS

    as
    1. Ahmad M. Khalid & Seema Sharma & Amlendu K. Dubey, 2018. "Developing an indicator set for measuring sustainable development in India," Natural Resources Forum, Blackwell Publishing, vol. 42(3), pages 185-200, August.
    2. Natalia Vukovic & Vladimir Pobedinsky & Sergey Mityagin & Andrei Drozhzhin & Zhanna Mingaleva, 2019. "A Study on Green Economy Indicators and Modeling: Russian Context," Sustainability, MDPI, vol. 11(17), pages 1-13, August.
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    More about this item

    Keywords

    socio-ecological development; comparative analysis; Environmental Performance Index; assessment indicators;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects

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