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Date submitted2019-07-11
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Date accepted2019-09-02
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Date published2019-12-24
Stakeholders management of carbon sequestration project in the state – business – society system
Prevention of catastrophic effects of climate change is one of the most pressing challenges of this century. A prominent place in the low-carbon development system today is carbon capture and storage technology (CCS). This technology can significantly reduce greenhouse gas emissions, leading to global warming. Effectiveness of technology has been proven through successful implementation of a number of CCS projects. CCS projects are implemented in the context of national and often international interests, consolidating efforts of many parties. Sequestration projects involve government bodies, public, industrial and scientific sectors, as well as a number of other business structures. Each participant presents his own expectations for results of the project, which can compete among themselves, creating threats to its successful implementation. World experience in implementing CCS projects indicates that opposition from a certain group of stakeholders can lead to closure of a project, therefore, interaction with environment is one of the key elements in managing such projects. This study focuses on specifics of stakeholder management in implementation of CO 2 sequestration projects. Based on the analysis of world experience, role of the state, business and society in such projects is determined, their main expectations and interests are summarized. The main groups of stakeholders of CCS and CCUS (carbon capture, utilization and storage) projects were identified, differences in their interests and incentives to participate were analyzed. It is proved that system of interaction with stakeholders should be created at the early stages of the project, while management of stakeholders is a continuous process throughout the life cycle. An author’s tool is proposed for assessing degree of stakeholder interest, the use of which allowed us to determine interaction vectors with various groups of stakeholders.
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Date submitted2018-04-26
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Date accepted2018-06-28
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Date published2018-10-24
Modern specificity of corporate relations on the example of vertical-integrated company
- Authors:
- A. A. Lapinskas
The article describes features of the modern model of Russian corporate relations on the example of a vertically integrated and diversified company. The CRs are still affected by the consequences of the privatization processes of state and municipal enterprises in the 1990s, which resulted in the emergence of a peculiar economic model of oligarchic capitalism and a specific model of CR. On a specific example, the pros and cons of this model are analyzed considering the processes of consolidation of entrepreneurial activities in the metallurgy and gold mining industry. The conclusion is made about the predominance of quasi-corporate relations, the ways to improve CR are suggested.
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Date submitted2014-11-01
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Date accepted2015-01-22
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Date published2015-10-26
Project finance for strategic investment projects of mining corporations
- Authors:
- T. V. Ponomarenko
- N. A. Belitskaya
A strategic project realization in large companies leads to long-term competitive benefits, but is very costly, has high risks and complicated structural arrangement. Long payback period, high debt and risk burden result in the necessity to use project finance facilities. The research aims to find out conditions and justify the possibility of the use of project finance in Russian mining companies in terms of the new legal framework. Characteristics of projects requiring the use of project finance are determined. The article clarifies the principles and definition of project finance. Specific risks and realization problems of project finance in the Russian context are analyzed. A comparison between the Russian legal framework of project finance and regulation in foreign countries is made; examples and problems in the Russian project finance practice are shown. The results can be used by mining companies for justification of the optimal financial strategy for major investment projects realization.