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Esg Integration In Evaluating And Financing Local Government: A New Prospects For Local Governments And Modern Societies

Author

Listed:
  • Anastasios SEPETIS

    (Assistant Professor, Business Administration Department, University of West Attica, 12241 Egaleo, Athens, Greece)

  • Dimitrios TSIRIGOTIS

    (Researcher, Department of Digital Studies, University of Piraeus,)

  • Ioannis NIKOLAOU

    (Professor, Business and Environmental Technology Economics Lab,Department of Environmental Engineering, Democritus University of Thrace, 67100 Xanthi, Greece)

  • Yannis MANIATIS

    (Professor, Department of Digital Systems, University of Piraeus, GR-18534 Piraeus, Greece)

Abstract

The discourse on Environmental, Social and Governance (ESG) factors in the financial markets brings a prime opportunity for local governments to the fore. This opportunity pertains to their efforts to reduce their environmental impact, improve the living conditions of local communities and reform their decision-making processes. This paper is an attempt to capture the said perspective of the Local Government through the critical overview of the relevant theoretical background and much more of the existing successful practices. The supreme challenge is to find the optimal ratio between economic growth, socially fair development and the preservation of natural resources. In this equation, one could argue that the independent variables are human resources, finite natural resources, the institutional framework (that should set limits to depletion), as well as the financing of activities aimed at Sustainable Development. Urban sustainability derived from ESG factors can provide a more comprehensive approach to the above equation by challenging the central authority to establish appropriate rules and approve good practices and the markets to further insist on sustainable investments. In order to perform comprehensive research for the synergies ESG criteria in the Local Government, we chose to use the systematic literature review’s guidelines. Furthermore, the purpose of this paper is to shape an ESG integration model for Greek local authorities by utilizing the existing literature.

Suggested Citation

  • Anastasios SEPETIS & Dimitrios TSIRIGOTIS & Ioannis NIKOLAOU & Yannis MANIATIS, 2024. "Esg Integration In Evaluating And Financing Local Government: A New Prospects For Local Governments And Modern Societies," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 81-97, June.
    • Handle: RePEc:hrs:journl:v:xvi:y:2024:i:1:p:81-97
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    References listed on IDEAS

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    More about this item

    Keywords

    Sustainable Finance; Environmental Social and Governance (ESG); Sustainable Regions; Sustainable Cities; Municipal Green Bonds;
    All these keywords.

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General

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