IDEAS home Printed from https://ideas.repec.org/a/spr/ieaple/v22y2022i1d10.1007_s10784-021-09551-6.html
   My bibliography  Save this article

RETRACTED ARTICLE:Development of corporate investment funds as a tool to achieve the goals of international treaties in the field of climate change

Author

Listed:
  • Maira Bauer

    (S. Seifullin Kazakh Agrotechnical University)

  • Mariya Bulatenko

    (MIREA–Russian Technological University)

  • Natalia Shimshirt

    (National Research Tomsk State University)

Abstract

The UNFCCC and Paris Climate Agreement set the environmental agenda for many years to come, making environmental protection a global trend. Herewith, these documents created many unprecedented challenges for business, shifting the focus from the original role of commercial benefit to the trade-off between profit and social responsibility. The need to adapt business strategies to the existing agenda has created new requirements for shaping the investment environment. In this aspect, there arises the question regarding the organizational and legal form the investment activities can be carried out in and what additional regulatory instruments can be applied to simplify the procedure for attracting environmental investments. In the current conditions, corporate investment funds may be considered as promising instruments for achieving the goals of international climate agreements. The study suggests that corporate investment funds can become an effective tool for attracting environmental investments. The study purpose is to assess the role of corporate investment funds in international climate agreements goals achievement, to consider the possibility of development strategies to improve management efficiency in the corporate investment funds in terms of their linkage to UNFCCC, Paris Climate Agreement and in a comparative perspective. The study methodology is based on the analysis of world and Russian law enforcement practices in the corporate activities field through the application of a systematic approach. The relationship between corporate governance represented by big businesses and the state is considered in the framework of the investment mechanism and the institutional environment, which is visualized in the model of the business landscape of a corporate investment fund in order to determine management strategies in the operation and development of a corporate investment fund. The study results can be put into practice by financial market participants and other entities in order to increase the efficiency of the use of assets and knowledge of national jurisdictions in the context of world and Russian practices.

Suggested Citation

  • Maira Bauer & Mariya Bulatenko & Natalia Shimshirt, 2022. "RETRACTED ARTICLE:Development of corporate investment funds as a tool to achieve the goals of international treaties in the field of climate change," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 22(1), pages 119-138, March.
    • Handle: RePEc:spr:ieaple:v:22:y:2022:i:1:d:10.1007_s10784-021-09551-6
    DOI: 10.1007/s10784-021-09551-6
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10784-021-09551-6
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10784-021-09551-6?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Pekovic, Sanja & Grolleau, Gilles & Mzoughi, Naoufel, 2018. "Environmental investments: Too much of a good thing?," International Journal of Production Economics, Elsevier, vol. 197(C), pages 297-302.
    2. Serdar Çelik & Mats Isaksson, 2014. "Institutional investors and ownership engagement," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2013(2), pages 93-114.
    3. Shahin Bayramov & Iurii Prokazov & Sergey Kondrashev & Jan Kowalik, 2021. "Household Electricity Generation as a Way of Energy Independence of States—Social Context of Energy Management," Energies, MDPI, vol. 14(12), pages 1-19, June.
    4. Douglas Cumming & Igor Filatotchev & April Knill & David Mitchell Reeb & Lemma Senbet, 2017. "Law, finance, and the international mobility of corporate governance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 48(2), pages 123-147, February.
    5. Yonglong Lu & Nebojsa Nakicenovic & Martin Visbeck & Anne-Sophie Stevance, 2015. "Policy: Five priorities for the UN Sustainable Development Goals," Nature, Nature, vol. 520(7548), pages 432-433, April.
    6. Riikka Sievänen & John Sumelius & K. Islam & Mila Sell, 2013. "From struggle in responsible investment to potential to improve global environmental governance through UN PRI," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 13(2), pages 197-217, May.
    7. Patel, Saurin & Sarkissian, Sergei, 2017. "To Group or Not to Group? Evidence from Mutual Fund Databases," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 52(5), pages 1989-2021, October.
    8. Jiang, Fuxiu & Cai, Wenjing & Wang, Xue & Zhu, Bing, 2018. "Multiple large shareholders and corporate investment: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 66-83.
    9. Proskuryakova, Liliana N. & Ermolenko, Georgy V., 2019. "The future of Russia’s renewable energy sector: Trends, scenarios and policies," Renewable Energy, Elsevier, vol. 143(C), pages 1670-1686.
    10. B. N. Porfiryev, 2018. "The Green Factor of Economic Growth in Russia and the World," Studies on Russian Economic Development, Springer, vol. 29(5), pages 455-461, September.
    11. Nam Hoai Tran & Chi Dat Le & David McMillan, 2020. "Ownership concentration, corporate risk-taking and performance: Evidence from Vietnamese listed firms," Cogent Economics & Finance, Taylor & Francis Journals, vol. 8(1), pages 1732640-173, January.
    12. Jon Skjærseth & Jørgen Wettestad, 2007. "Is EU enlargement bad for environmental policy? Confronting gloomy expectations with evidence," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 7(3), pages 263-280, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhi-Jiang Liu & Vera Snezhko & Anastasia Kurilova, 2022. "International legal instruments for stimulating green building and construction business: Russian case study," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 22(1), pages 157-175, March.
    2. Tao, Qizhi & Wei, K.C. John & Xiang, Xueman & Yi, Biao, 2022. "Board directors' foreign experience and firm dividend payouts," Journal of Corporate Finance, Elsevier, vol. 75(C).
    3. Blake Rayfield & Omer Unsal, 2019. "Institutional Monitoring and Litigation Risk: Evidence from Employee Disputes," NFI Working Papers 2019-WP-02, Indiana State University, Scott College of Business, Networks Financial Institute.
    4. A. G. Aganbegyan & A. N. Klepach & B. N. Porfiryev & M. N. Uzyakov & A. A. Shirov, 2020. "Post-Pandemic Recovery: The Russian Economy and the Transition to Sustainable Social and Economic Development," Studies on Russian Economic Development, Springer, vol. 31(6), pages 599-605, November.
    5. Pin Li & Jinsuo Zhang, 2019. "Is China’s Energy Supply Sustainable? New Research Model Based on the Exponential Smoothing and GM(1,1) Methods," Energies, MDPI, vol. 12(2), pages 1-30, January.
    6. Luis Alfonso Dau & Aya S. Chacar & Marjorie A. Lyles & Jiatao Li, 2022. "Informal institutions and international business: Toward an integrative research agenda," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(6), pages 985-1010, August.
    7. Yang, Baochen & An, Haokai & Song, Xinyu, 2024. "Oil price uncertainty and corporate inefficient investment: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 70(C).
    8. Paul Brockman & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Ying Zheng, 2024. "Do foreign institutional shareholders affect international debt contracting? Evidence from Yankee bond covenants," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(5), pages 551-576, July.
    9. Filatotchev, Igor & Poulsen, Annette & Bell, R. Greg, 2019. "Corporate governance of a multinational enterprise: Firm, industry and institutional perspectives," Journal of Corporate Finance, Elsevier, vol. 57(C), pages 1-8.
    10. Sabri Boubaker & Riadh Manita & Wael Rouatbi, 2021. "Large shareholders, control contestability and firm productive efficiency," Annals of Operations Research, Springer, vol. 296(1), pages 591-614, January.
    11. Xiao Xiao & Yue Cheng & Yuling Zhang, 2024. "Sustainable Innovation in the Biopharmaceutical Industry: An Analysis of the Impact of Policy Configuration," Sustainability, MDPI, vol. 16(6), pages 1-23, March.
    12. Shannon L. Sibbald & Nicole Haggerty, 2019. "Integrating Business and Medical Pedagogy to Accomplish the Sustainable Development Goals," Journal of Education for Sustainable Development, , vol. 13(1), pages 92-101, March.
    13. Lei Zhou & Feng Wei & Yu Kong, 2022. "Do Employee Stock Ownership Plans Affect Corporate Social Responsibility? Evidence from China," IJERPH, MDPI, vol. 19(3), pages 1-19, January.
    14. Prado, Melissa & Evans, Richard B. & Zambrana, Rafael, 2020. "Identity, Diversity, and Team Performance: Evidence from U.S. Mutual Funds," CEPR Discussion Papers 14305, C.E.P.R. Discussion Papers.
    15. Machokoto, Michael & Areneke, Geofry, 2020. "Does innovation and financial constraints affect the propensity to save in emerging markets?," Research in International Business and Finance, Elsevier, vol. 52(C).
    16. Zhice Cheng & Xinyuan Chen & Huwei Wen, 2022. "How Does Environmental Protection Tax Affect Corporate Environmental Investment? Evidence from Chinese Listed Enterprises," Sustainability, MDPI, vol. 14(5), pages 1-22, March.
    17. Faiza Siddiqui & Yusheng Kong & Hyder Ali & Salma Naz, 2024. "Energy-Related Uncertainty and Idiosyncratic Return Volatility: Implications for Sustainable Investment Strategies in Chinese Firms," Sustainability, MDPI, vol. 16(17), pages 1-39, August.
    18. Almaghrabi, Khadija S., 2023. "Local product market competition and investment home bias," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 88(C).
    19. Amin, Qazi Awais & Cumming, Douglas, 2021. "Blockholders and real earnings management-the emerging markets context," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    20. Campbell R. Harvey & Daniel Rabetti, 2024. "International business and decentralized finance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(7), pages 840-863, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:ieaple:v:22:y:2022:i:1:d:10.1007_s10784-021-09551-6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.