Sedash T.N.Financial University under Government of Russian Federation, Moscow, Russian Federation t_sedash@mail.ru
Subject The new model of State environmental policy as stated in the Concept of long-term socio-economic development of the Russian Federation until 2020 implies incentives for reducing the environmental impact of all sources of pollution, and ecological business development. In the world practice, one of the most promising market-based instruments for encouraging investment in environmental projects is a public-private partnership (PPP). Objectives The aim of the article is to analyze the use of the PPP mechanism for implementing environmental projects in Russia. The study considers the commonly used forms of partnership in the sphere of environmental protection and energy saving, i.e. concession agreements and joint ventures. Methods In the study, I conducted the comprehensive analysis of strengths and weaknesses of environmental projects implemented in Russia. Results I considered the use of the PPP mechanism when implementing environmental projects. In addition, I examined the factors impeding the use of concession bond issue to finance PPP projects. The study includes recommendations on enhancing the development of various forms of PPP in Russia. Special focus is on possible application of life cycle contracts when implementing environmental projects. Based on foreign experience, I propose creating regional PPP units to improve organizational and functional implementation of investment projects as part of PPPs. Conclusions and Relevance I conclude that the sectors of hard domestic waste processing and waste water treatment facility construction have the greatest prospects for using the PPP mechanism. Over the long term, it is possible to use PPP in projects for energy saving, energy efficiency and renewable energy sources development.
Keywords: public-private partnership, market-based instruments, concession agreement, energy conservation, energy efficiency, environmental activities, nature protection, conservation, incentives, stimulation, promotion
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