Track: Parks, Recreation, & Tourism
Assessing “Benefit”: The Creation of Vocabulary for Green Investment
Tuesday, April 13, 3:35-4:15pm EDT
In 2019 Portugal introduced the Green Visa to attract international investment in organic agriculture, renewable energy, ecotourism and a wide range of environmental projects in exchange for residency and eventually citizenship. Globally, many other international, national and regional green bond or green investment initiatives have come into being within the last three years, and more will follow.
As investment in sustainable practice grows, particularly in developing regions, the outcome is often desired to be of “benefit to the community”. To distinguish itself, the green finance sector must invest toward positive outcomes within recipient communities, but while the language and practice of risk management is robust, the metrics of community benefit are not.
To foster genuinely green investment, the metrics of community benefit must be aggregated from standardized data, founded in respect for the recipient communities, and given equal footing with the financial goals of investors.