Browsing by Author "Lytnova, Oleksandra"

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    Шляхи впливу екологічних ризиків на фінансову діяльність компанії
    (Український інститут розвитку фондового ринку, 2015) Гарлицька, Діана Анатоліївна; Harlytska, Diana; Гарлицкая, Диана Анатольевна; Литньова, Олександра; Lytnova, Oleksandra; Сущенко, Олександр Миколайович; Suschenko, Oleksandr; Сущенко, Александр Николаевич
    Environmental risks are among the most important in terms of the probability of their occurrence and impact on the financial activities of the companies. Importance of environmental impact assessment is widely recognized because of enhanced intensity of natural resource use. As the market forces are not always able to counteract the negative effects of these influence, a wide range of mechanisms at the national and international levels has been developed. The aim of these mechanisms and instruments is to take into account the environmental risks and establish incentives for sustainable development of the main pollutants at the national, regional and international levels. In general, we talk about administrative and financial instruments. These mechanisms and instruments provide different ways to affect the Company’s financial performance, creating incentives to improve the performance in all areas related to corporate responsibility. Financial performance of the companies is directly associated with the income and expenditure. Nowadays, there are three common ways, in which environmental risks can affect company’s financial performance: fiscal, market and the path of limits, penalties. The aim of this paper is to describe the ways in which environmental risks can affect the company’s financial performance. Using the financial statements of the german energy company «RWE» and «Lufthansa» company key aspects of this influence are explored. This paper is also focused on the most important instruments, used by the European energy companies to fulfil all the necessary commitments and limitations in the area of environmental protection. All this demonstrates the importance of greenhouse gas emission reduction projects and generation of certificates. Otherwise, the company will be forced to buy them at the market price, which is almost twice as high as the price of their own certificates.