Leonardo Becchetti, University of Rome Tor Vergata
Mauro Cordella, TECNALIA, Basque Research and Technology Alliance (BRTA),
Piergiuseppe Morone, University of Rome UnitelmaSapienza
Driving and monitoring the transition toward a sustainable economy requires sound social and environmental indicators. In this paper we outline the ‘Green Investment Financial Tool’ (GIFT), a pilot project developed by the Italian government to assess environmental impact of investments from a life cycle perspective, ensuring they contribute to environmental progress while fulfilling social safeguard requirements. We explain how GIFT can be applied to small and medium business investments without creating competitive barriers associated with high cost of implementation. We also discuss how the approach could be potentially used in support of policy applications (e.g. enhancing green private investments, issuing green government bonds) and which are the implication for knowledge creation (monitoring and accounting).
Ecological transition; Environmental impacts; Green investment; Key performance indicators; Life cycle assessment; Sustainable Finance