Environmental Valuation

Technological Forecasting and Social Change

Environmental finance has gained considerable attention globally as an emerging interdisciplinary research area. This study uses bibliometric analysis to systematically review major studies on environmental finance-related areas published since the 1970s. Through a bibliometric analysis of 892 environmental finance-related articles sourced from the Web of Science database, we identified the main research streams and illustrated the trending research themes of environmental finance. We find that publications related to environmental finance have increased exponentially over the past decade. Current research streams include corporate and social responsibility (CSR), climate negotiations, natural gas price volatility, national policy, and cost comparisons. Further analysis of the recent five years of literature shows that emerging research topics include climate finance, sustainable finance, firm value, climate risk, and green bonds. Finally, we conclude with a future research agenda for environmental finance.

1993

This problem is common to most cost-benefit analyses, but often seems to be ignored. Perhaps as environmental economists 1 we are too self-conscious about the imprecision of our benefit estimates in environmental or natural resource valuation problems.

2000

Environmental Values, 1993

Abstract: For economists, sustainability and environmental valuation are connected in two ways. At the micro level, proper environmental valuation is required if projects are to be approved and rejected consistently with sustainability requirements. This is cost benefit ...

Journal of Economics, Business and Accountancy Ventura, 2016

This study examines whether environmental performance has value relevance by investigating the relations between environmental emissions and stock prices for the U.S. public companies. The previous studies argued that the conjectured relations between accounting performance measures and environmental performance do not have a strong theoretical basis, and the modeling of relations between market per-formance measures and environmental performance do not adequately consider the relevance of accounting performance to market value. Therefore, this study examines whether publicly reported environmental emissions provide incremental information to accounting earnings in pricing companies stocks. It is done among the complete set of industries covered by Toxics Release Inventory (TRI) reporting for the period 2007 to 2010. Using Ohlson model but modified to include different types of emis-sions, it is found that ground emissions (underground injection and land emissions) are value relevan...

Journal of Accounting and Public Policy, 1997

Journal of Economic Surveys, 2007

Environmental sustainability indices, such as the Dow Jones Sustainability Indexes and the Ethibel Sustainability Index, quantify the development and promotion of sustainable social, ethical and environmental values in the community. Moreover, such indices provide a benchmark for managing sustainability portfolios, and developing financial products and services that are linked to sustainable economic, environmental, social and ethical criteria. This paper reviews the existing data and risk indices in environmental finance. The main purpose of the paper is to analyse existing sustainability and ethical indices in environmental finance, and evaluate empirical environmental risk by estimating conditional volatility clustering that is inherent in these indices. Financial volatility models are estimated to analyse the underlying conditional volatility or time-varying risk that is inherent in alternative environmental sustainability indices. Volatility clustering is observed for most series, but some extreme observations are also evident. The log-and second-moment conditions suggest that valid inferences can be drawn for purposes of sensible empirical analysis.

The business case for corporate environmental responsibility is the claim that behaving responsibly makes financial sense. It is impossible to exaggerate the contemporary significance of this claim, not least in legitimising environmental concerns in the corporate sphere. However, the business case is not without significant empirical and normative limitations, as is illustrated by the corporate environmental problem of supermarket waste. This paper evaluates Enlightened Shareholder Value under section 172 of the Companies Act 2006 in light of such business case limitations. It suggests that section 172, by procedurally mandating the business case for corporate environmental responsibility, is a retrograde step which envisions not enlightened, but rather environmentally unenlightened, shareholders.

Strategic Management Journal, 2008

Environmental science & …, 2000