Economic assessment of environmental damage in the framework of implementing a public-private partnership project for the construction and operation of a highway
Subject. The environmental aspect of implementing a project for the construction and operation of a highway. Objectives. To convert natural values characterizing the main types of environmental damage within the framework of highway construction and operation into monetary terms. Methods. The financial modelling method was used. An analysis of scientific literature, statistical data and industry standards was carried out. Types of environmental damage are converted into monetary terms and compared with the project’s economic indicators. The following ratios were calculated: environmental damage per 1?km of road in relation to the project budget, to maintenance costs, and to EBITDA. Results. It has been determined that the construction of 1?km of a four-lane highway causes comprehensive environmental damage amounting to up to 1.34?billion rubles. The total amount of environmental damage over the project’s lifecycle reaches 38?% of the costs incurred for road construction, with air pollution-related damage accounting for the largest share in the long term. Conclusions and Relevance. The high monetary valuation of environmental damage indicates the need to develop an infrastructure development model that achieves a balance between the economic interests of stakeholders and the preservation of the ecological well-being of territories. Through the PPP mechanism, the state has the opportunity to stimulate the adoption of high environmental standards and to develop green financing instruments. The results can be applied by participants in the public-private partnership (PPP) market to enhance expertise in environmental risk management in the field of road infrastructure.
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