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Financial Support for Circular Initiatives as a Basis for Ensuring the Environmental Safety and Sustainability of the Regional Economy in the Context of Industry 4.0

In: Industry 4.0

Author

Listed:
  • Veronika V. Yankovskaya

    (Plekhanov Russian University of Economics
    State University of Management)

  • Margarita V. Vertiy

    (Kuban State Agrarian University named after I.T. Trubilin)

  • Natalia A. Rykhtikova

    (Krasnogorsk Branch of Russian Presidential Academy of National Economy and Public Administration)

  • Nikolai I. Berzon

    (National Research University “Higher School of Economics”)

Abstract

Purpose: The purpose of the article is to develop recommendations for improving financial support for circular initiatives as a basis for ensuring the environmental safety and sustainability of the regional economy in the context of Industry 4.0 using the example of the regions of Russia. Design/methodology/approach: The top 10 regions of Russia on sustainable development (integral index) were selected for the research. The regression dependence of the share of organizations engaged in secondary processing on investments in fixed assets per capita is determined, as well as the regression dependence of environmental, social, and managerial sustainability on the share of organizations engaged in secondary processing. Findings: It was established that in order to maximize the popularity of circular initiatives in entrepreneurship in the regions of Russia (100% of organizations implementing circular initiatives), it is necessary to increase the volume of investments in fixed assets per capita to 6150.36 thousand rubles. The expected implications for sustainability from the noosphere approach are quantified. Originality/value: It is justified that financial support for circular initiatives is indeed necessary, especially in the context of Industry 4.0. On the example of the regions of Russia, it has been proved that full-scale financial support allows you to achieve the complete circularity of entrepreneurship. However, the impact of this on the environmental security and sustainability of the regional economy is controversial.

Suggested Citation

  • Veronika V. Yankovskaya & Margarita V. Vertiy & Natalia A. Rykhtikova & Nikolai I. Berzon, 2021. "Financial Support for Circular Initiatives as a Basis for Ensuring the Environmental Safety and Sustainability of the Regional Economy in the Context of Industry 4.0," Springer Books, in: Elena B. Zavyalova & Elena G. Popkova (ed.), Industry 4.0, chapter 0, pages 397-404, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-75405-1_35
    DOI: 10.1007/978-3-030-75405-1_35
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