dr inż. Dariusz Wielgórka

 

New financial instruments in managing ecogrowth in the aspect of globalisation’s processes

Summary

Ecogrowth it is balanced development in agreement the nature environment. Membership of the European Union of Poland is influencing for putting into practice ecogrowth. Financial instruments are playing the significant part especially. They are posing intermediate methods and methods in the aspect of the environmental protection of exerting influence on economic subjects in order applying the assurance to the default and future production and service activity of principles ecogrowth. He is the purpose of work presenting of financial instruments influencing development ecogrowth in the aspect of processes of the globalisation.

Key words: ecogrowth, financial instruments, the globalisation

 

The concept and the term ecogrowth

 

     Concept ecogrowth elaborated and introduced by international assemblies into the world vocabulary ONZ remained. They used this term for Stockholm at the international conference for the first time in the year 1972. In turn in the report "the environment and development" of ONZ commission under guidance Harlem Brudtland game and arrangements of nations' conferences united in Rio de Janeiro in 1992 r. the concept was formulated ecogrowth. Such social and economic development which the satisfaction of need will ensure was regarded as contemporary society in accordance to her for durable and balanced development without infringing the chance to provide for needs for unborn generations [8]. The concept formulated in the report of balanced development is the most optimistic projection of development of the world in the horizon of 21st age. This idea was accepted by the world community in 1992 r. at top level of the earth "the environment and development". Since that time each countries began to realize the global application of action docket 21 who is the policy, presenting the method of the study document and of putting applications of balanced development into practice to the local life. The concept of balanced development also deeply entered the strategy of applications and the politician of the European community and was featured much in the project of the European constitution [12].

      We are meeting many labels in Polish literature: ecogrowth, balanced, durable, self-maintaining development oneself.

      Ecogrowth it means development based on nature criteria and he is often identified with balanced development in Polish literature. However balanced development is understood integrally in environmentally friendly, culture and economic sense. So this concept has the wide range in the relation for ecogrowth. They were lasting development in turn (self-maintaining oneself) is most often applied in economic categories being the broadest, most distant from the concept formulation ecogrowth.

      Strategy ecogrowth she should so to have the global, national, regional and local measurement.

 

Financial instruments in the group of tools of the environment economy.

 

      Three groups of tools are being awarded in the environmental protection [10]:

1) decentralised tools (regulations of law, the civil and penal responsibility, environmentally friendly education),

2) tools of direct directing and the check-up (quality standards environments, of the emission, sewage, engineering standards, produktowe),

3) economic tools (environmentally friendly fees, environmentally friendly taxes, transferable authorities, deposit systems, fines, subsidies, subsidies, credits and preferred loans, tax relieves, environmentally friendly deposits).

      Financial instruments are playing the significant part especially. They are posing intermediate methods and methods in the aspect of the environmental protection of exerting influence on economic subjects in order applying the assurance to the default and future production and service activity of principles ecogrowth. The fact of the influence of companies on financial effects is the feature distinguishing them from other tools of the control [9]. He is their task inspiring economic subjects to thrifty using of resources and values by environments, eliminating of products from the market, of whom producing or use is arduous for the nature and the person, internationale of outside expenses of the influence of manufacturing processes on the environment and amassing financial resources for protective enterprises. The spectrum of financial instruments was increased considerably in the 10 last years, or in broader importance economic [3]. It is possible to collect them to five groups, differing from oneself with method of the influence of management on the object. They are the one [15]:

 1) tools about the character of public tributes, but the of every description rally of the fee and environmentally friendly taxes,

 2) tools based on markets of permissions for the emission on market transactions, e.g.,

 3) financial encouragement, e.g. subsidies, tax relieves,

 4) environmentally friendly financial securities, e.g. environmentally friendly deposits or compulsory insurances against consequences of the breakdown,

 5) managing fines.

The influence taken up by economic subjects on decisions is happening through the agency of economic tools. It refers to mainly companies, but also more often and more often of households as units taking microeconomic decisions up. Mechanism of working of economic tools is relying on directing stimuli and information who are being transferred indirectly behind means of the market mechanism (they are being counted among intermediate tools from here). These signals are orienting environments at working of users. The designed or addressed tool isn't securing the realization of purposes of the environmentally friendly policy. Functioning of these tools perhaps to bring unexpected consequences since assumed purposes are being realized through the agency of the very complex system - of free market. And therefore it is necessary at designing and the choice of economic tools to take criteria which they have for tasks into consideration to minimise unfavourable consequences. These criteria the one before everything: environmentally friendly effectiveness, economic efficiency and the chance to put into practice [6].

      They are using the whole spectrum of financial instruments in the world (table 1). Tools are being applied to Poland longest and most often about the character of public tributes. Only in recent years bigger and bigger modern tools are playing a role, so like of protecting the various kind financial whether the market of rights to the emission of pollutions.

 

Table 1. Division of economic tools

Types of tools

Systems

 

Managing fines

 

 

Financial encouragement

Direct subsidies

Intermediate subsidies

 

Tools about the character of public tributes

Payments for economic use environments

Payments for expelling of pollutions

Application payments, produktowe, deposit

Service payments

 

Tools leaned on free-market transactions

Common implementations

Mechanism of clear development

Transferable rights to the emission of pollutions

 

Environmentally friendly financial securities

Environmentally friendly deposits

Environmentally friendly insurances

Bank guarantees

 

 

Source: own study on the basis: managing of the environment, op. cit.,, s. 153.

 

      However tools remembered already have the big mark of inertia when putting into practice. Before the incentive signal will run environments in to the user through the market usually by sure time, and therefore economic tools aren't ensuring the suitable level of environmentally friendly safety also. They should for this reason fulfil the completing or strengthening working of legal and managing tools part.

 

1.     Characteristics of chosen financial instruments

 

      To main financial instruments in managing ecogrowth tools belong about the character of public tributes, i.e. taxes and fees. Profits on fees should to returnably intended for financing processes of protection and of managing the environment. They are being assembled in Poland on appropriation accounts of environmentally friendly funds. Environmentally friendly taxes are posing general budgetary revenues in turn and to be used, for the investment financing and pro-ecological enterprises they don't have to although they are able [6]. The table is presenting kinds of tools about the character of public table 2.

 

Table 2. Kinds of tools about the character of public tributes

Kinds

Examples

 

1. Payments for economic use environments

 - payments for consumption of water for economic purposes

 - payments for managing mineral resources

 - payments for switching grounds off from agricultural and forest production

 - payments for cutting trees and bushes

 - ground and forest tax

2. Payments for the emission of pollutions

 - payments for the emission into air of gas pollutions and pyłowych,

 - payments for transferring sewage to surface water or to soil

 - payments for putting waste on the dumping ground

 - payments for the emission of the noise

 - payments for electromagnetic radiation

3. Payments produktowe and deposit

 - payments from waste opakowaniowych not-recovered to the determined level of recycling and the recycling

 - deposit payments at sale of batteries

4. Service payments

 - payments for the supply of water

 - fees and transferring and cleaning sewage

 - payments for removal and defusing constant and liquid waste.

 

Source: own study on the basis: managing of the environment, op. cit.,, s. 161.

 

      Significant role in management ecogrowth they are playing leaned on the mechanism of market transactions, built tools on the principle of law of demand and the supply, with the special consideration of the R. Coase´a theorem.  It is theoretically characterised regularity, pointing the chance to reach the optimal level of pollutions as a result of two-sided negotiations between users of resources and of values environments. There is no in the Coase´a approach distinction on using about environments and bearing consequences of this using and interventional participation of the state isn't being predicted in the process of the internalization of outside expenses. However this approach is contradictory to one of basic principles of the environmentally friendly policy - the perpetrator of the pollution is paying - the financial burden is bearing environments for the pollution in this case both the perpetrator and the destination of outside effects what is causing that this theory is the subject of how many controversies [15]. The developed the Coase´a idea. Cocker, proposing in 1966, concepts of transferable permissions for the emission. His proposal consisted on giving the quality control up environments behind means of direct tools (of standards, standards), but of determining by the agency (office), responsible for the check-up environments, of legal charge of pollutions, spending the number adequate for him of permissions for the emission and dividing or selling permits on the market.

      Transferable rights to the emission of pollutions are also being determined with name of permits, issuing certyficates, authorities of the emission, credits of the reduction of the emission. It is subject of circulation on the market of permissions for the emission. Their owner not to use issuinging of the determined quantity of the pollution by right perhaps and to resell this law for the other person for subject. Permits are able to be further away sold and purchased on the market of rights of the emission. With motive of containing of the transaction is reaching of benefits which are boiling down to adapting the choice of the most inexpensive method by their participants to requirements regulating the quality of regulations which environments [6]. They are binding to principles on the market of rights to the emission of pollutions the same, how on every other slow-competitive market. Prices are forming depending on the rarity (availability) of given environment resource. With condition of correct functioning of this tool the earlier specification of frames is law - institutional (determining of initial conditions of functioning of the market, specification of the pool available on the market of authorities, their initial price, and the like) [4].

Trade in permits came true in USA in regard to the emission of pollutions of air, in New Zealand - in limiting size of fishings of fish. Trade in emissions was permitted in UE countries only in 2003 r. in relating the emission of gases to the reduction, but Poland in 2005. introduced also the market of rights to the emission - it happened under this the act from the day 22 of December 2004 r. about trade in entitlements to the emission into air of gases and of other substances [14].

      Remaining tools leaned on free-market negotiations have subordinate importance and they are assisting merely the market. To most important it is necessary to visit two mechanisms:

 - common implementations - mechanism enabling the reduction of resultant gases purchasing and the transfer of units as a result of lowering their emission or increasing realizations, of investment projects devouring.

 - mechanism of clear development - is operating on the similar principle, how remembered earlier, except, that investments lowering the emission of gases or devouring increasing them must to be placed in states not-participating in the system of trade in permits [15].

      Utilized among tools in management ecogrowth it is necessary to enumerate managing fines too (environmentally friendly penalties), i.e. sanctions for using about environments without the permit or inconsistently with binding regulations, in the way harmful to the person and the nature. Punishment is most often measured in practice too:

 - exceeding of the quantity determined in the permit or kinds of gases and dust introduced into air,

 - exceeding of the quantity determined in the permit, the state or the composition of sewage,

 - exceeding of the intake determined in the permit of water,

 - exceeding of levels determined in the permit of the noise,

 - cutting trees and bushes without the permit,

 - destroying greenery during earth work.

Compensations for losses are being treated by fines under the environment as the form, however they aren't slowing down from the obligation to satisfy in the relation to subjects which damages bore neither they aren't freeing from bearing expenses of bringing back of the original state to the environment [5].

      The next kind of financial instruments in managing ecogrowth they are posing subsidies (subsidies, subsidies). It is outside given by the state, directed to economic subjects financial support whom, is the main task 'for' supporting of pro-ecological investments. Subsidies have other people completely the character than tools enumerated earlier, because they are being given before everything on principles which aren't resulting from the market mechanism but from policy guide-lines or the realization of determined applications government. It is possible to divide these tools on:

 - direct subsidies which are able to come from the state budget, local governments, environmentally friendly funds, the foreign aid (ecoconwersion - exchange for expenses of the foreign debt for the environmental protection); they are able to accept various forms - of unreturnable subsidies, credits, loans, and the like

 - intermediate subsidies - applied as tax diversity and customs diversity most often; profitable principles of taxation refer to the business activity, tied with the environmental protection directly.

      It is worth mentioning such financial instruments too, like environmentally friendly financial, posing the method of protecting claims by virtue of damages and their resultant consequences under the environment as a result securities of functioning of the company, both as a result of unpredictable situations, and in case of normal functioning of the company. It is relatively new tool in managing ecogrowth and many countries, in it also in Poland, introducing him encounters resistance of the legal and institutional nature. It is possible to this type of tools to visit [15]:

 - environmentally friendly deposits - i.e. payment of the economic subject in favour of the reliable institution for maintaining the desired state environments, paid in front of taking the enterprise up by this subject whom the realization is able to cause negative environmentally friendly consequences. The turn of the deposit is occurring when the subject is fulfilling specific with law environmentally friendly requirements.

- environmentally friendly insurances - applied to the chemical, pharmaceutical industry in regard to companies, e.g. most often the activity is being described with high environmentally friendly risk. It means the carry, in exchange for the suitable fee, for institutions insurance of civil liability too is eating unfavourable consequences of interactions of subjects environmentally friendly making. They are able the both voluntary and compulsory, imposed by the state e.g. character to have this kind of the insurance.

Summary

      Membership of structures of the European Union of Poland involves a lot of results, tied with the realized environmentally friendly policy of the state, but within her confines of also the concept ecogrowth. Poland became with the recipient of this kind of the policy, but obtained also the possibility effective and effective of creating her. Success wouldn't be possible on this field of working of the state without creation of the effective system of financing. Increasing efficiency of the usage of aid centers of the European community, mobilization of domestic funds for action happened to one of basic priorities of the state currently pro-ecological and creation of new tools supporting the realization of these tasks. However the range is insufficient still of taking into consideration of the principle of balanced development, and some strategies and applications often rise without taking requirements of the environmental protection into consideration. In order to prevent such a practice the obligation to execute strategic estimations of the influence of all on the environment was introduced politician and of strategic applications. Putting into practice of principles ecogrowth should contribute to the limitation energy and materials of Polish economy.

      Development of economic tools in managing ecogrowth should go to increasing of not very harmful profitability of the business activity in the trend hereafter for environments, of actuating of initiatives and technological development, i.e. of putting into practice of the economic and environmentally friendly strategy of the double benefit (win-win strategy) and of rational utilizing of natural resources.

 

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