The main challenges in environmental economics and green investment

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Abstract

in most studies related to environmental economics, deterministic models are primarily used to consider risks, uncertainty, and sustainability. However, these models may not be sufficient to handle large negative environmental events. These events, such as heatwaves, hurricanes, floods, and droughts, are highly unpredictable and can occur at irregular intervals and vary in intensity. Risk and uncertainty regarding socio-economic impacts and technological development also affect optimal policy development». The world needs a regulatory mechanism and a set of rules to maintain sustainability. It is important to take into account all uncertainties in subsequent modeling to avoid collapses that may occur during stochastic, unpredictable events.

About the authors

E. S Maksimov

St. Petersburg State University

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