Gorbunova O.I., Kanitskaya L.V.Published in:
Russian Journal of Innovation Economics
– Volume 9, Number 2 (April-June 2019)

JEL classification: Q35, Q56, Q57, Q59

Keywords: “green” economy, cost-effectiveness assessment, data envelopment analysis (DEA), eco-efficiency, environmental management system, image component of the company, oil and gas companies


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Abstract:

The article provides information on methods and tools developed to date, that allow to evaluate the eco-efficiency of measures to adjust the impact of pro-duction on natural systems and have an active influence on the policies of coun-tries, businesses and companies in order to implement the principles of «green economy». It has been established that in the scientific literature there are no stud-ies of the eco-efficiency of the activities of oil and gas companies in Russia using one of the most commonly used methods data envelopment analysis (DEA). The paper describes the domestic methods that allow to evaluate the relationship be-tween the volume of investment in environmental projects and the economic effi-ciency of the company, as well as its image component. The purpose of this study is to identify the possibilities of domestic methods to influence the environmental policy of Russian oil and gas companies. The results of evaluating the economic efficiency of the implementation of environmental management systems (EMS) on the example of Rosneft PJSC using two different domestic methods that we modified led to the conclusion that the demonstrated close relationship between environmental and economic performance indicators would increase the motivation of company management in the implementation of environmental projects. However, these methods cannot be used for a real assessment of the effectiveness of corrective environmental actions. Our research confirms the need to apply the DEA method to assess and monitor the eco-efficiency of companies in the oil and gas sector of the economy.

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