A framework for assessing the social and economic impact of sustainable investments

Minna Räikkönen (Corresponding Author), Susanna Kunttu, Teuvo Uusitalo, Josu Takala, Shah Rukh Shakeel, Sara Tilabi, teppo Forss, Juha Koivunen

Research output: Contribution to journalArticleScientificpeer-review

1 Citation (Scopus)

Abstract

Investments towards sustainable development are vital for the future and they must be carefully planned to deliver immediate and long-term benefits. Hence, the ability to communicate the forms of impact of sustainable investments to local societies, people, investors and other stakeholders can provide a competitive advantage. However, the assessments are often under pressure to demonstrate short-term effects rather than emphasise the long-term impact. In addition, indirect and intangible forms of impacts should not be measured solely in economic terms. This paper proposes an assessment framework to support the integrated economic and social impact assessment of sustainable investments aimed at improving physical and socio-economic wellbeing. The framework is demonstrated in two case studies: new construction and renovation investments in affordable housing and social impact investment in sustainable development. The investments in the case studies are evaluated, selected and prioritized not only in terms of money but also with regard to sustainability, social acceptability and their overall impact on society, as a whole. The results indicate that a systematic integrated assessment of monetary and non-monetary factors can be successfully combined with the sustainable development decisions.
Original languageEnglish
Pages (from-to)79-86
JournalManagement and Production Engineering Review
Volume7
Issue number3
DOIs
Publication statusPublished - 2016
MoE publication typeA1 Journal article-refereed

Fingerprint

Economics
Sustainable development
Economic impact
Sustainable investment
Social sustainability
Integrated assessment
Investors
Affordable housing
Factors
Intangibles
Integrated
Impact assessment
Socio-economics
Economic well-being
Stakeholders
Acceptability
Competitive advantage

Keywords

  • investment
  • impact
  • sustainable development
  • decision-making
  • assessment
  • affordable housing

Cite this

Räikkönen, Minna ; Kunttu, Susanna ; Uusitalo, Teuvo ; Takala, Josu ; Shakeel, Shah Rukh ; Tilabi, Sara ; Forss, teppo ; Koivunen, Juha. / A framework for assessing the social and economic impact of sustainable investments. In: Management and Production Engineering Review. 2016 ; Vol. 7, No. 3. pp. 79-86.
@article{2e0c74b66c0e4d16a28630d98f70c00f,
title = "A framework for assessing the social and economic impact of sustainable investments",
abstract = "Investments towards sustainable development are vital for the future and they must be carefully planned to deliver immediate and long-term benefits. Hence, the ability to communicate the forms of impact of sustainable investments to local societies, people, investors and other stakeholders can provide a competitive advantage. However, the assessments are often under pressure to demonstrate short-term effects rather than emphasise the long-term impact. In addition, indirect and intangible forms of impacts should not be measured solely in economic terms. This paper proposes an assessment framework to support the integrated economic and social impact assessment of sustainable investments aimed at improving physical and socio-economic wellbeing. The framework is demonstrated in two case studies: new construction and renovation investments in affordable housing and social impact investment in sustainable development. The investments in the case studies are evaluated, selected and prioritized not only in terms of money but also with regard to sustainability, social acceptability and their overall impact on society, as a whole. The results indicate that a systematic integrated assessment of monetary and non-monetary factors can be successfully combined with the sustainable development decisions.",
keywords = "investment, impact, sustainable development, decision-making, assessment, affordable housing",
author = "Minna R{\"a}ikk{\"o}nen and Susanna Kunttu and Teuvo Uusitalo and Josu Takala and Shakeel, {Shah Rukh} and Sara Tilabi and teppo Forss and Juha Koivunen",
note = "Project code: 102305",
year = "2016",
doi = "10.1515/mper-2016-0027",
language = "English",
volume = "7",
pages = "79--86",
journal = "Management and Production Engineering Review",
issn = "2080-8208",
publisher = "De Gruyter",
number = "3",

}

A framework for assessing the social and economic impact of sustainable investments. / Räikkönen, Minna (Corresponding Author); Kunttu, Susanna; Uusitalo, Teuvo; Takala, Josu; Shakeel, Shah Rukh; Tilabi, Sara; Forss, teppo; Koivunen, Juha.

In: Management and Production Engineering Review, Vol. 7, No. 3, 2016, p. 79-86.

Research output: Contribution to journalArticleScientificpeer-review

TY - JOUR

T1 - A framework for assessing the social and economic impact of sustainable investments

AU - Räikkönen, Minna

AU - Kunttu, Susanna

AU - Uusitalo, Teuvo

AU - Takala, Josu

AU - Shakeel, Shah Rukh

AU - Tilabi, Sara

AU - Forss, teppo

AU - Koivunen, Juha

N1 - Project code: 102305

PY - 2016

Y1 - 2016

N2 - Investments towards sustainable development are vital for the future and they must be carefully planned to deliver immediate and long-term benefits. Hence, the ability to communicate the forms of impact of sustainable investments to local societies, people, investors and other stakeholders can provide a competitive advantage. However, the assessments are often under pressure to demonstrate short-term effects rather than emphasise the long-term impact. In addition, indirect and intangible forms of impacts should not be measured solely in economic terms. This paper proposes an assessment framework to support the integrated economic and social impact assessment of sustainable investments aimed at improving physical and socio-economic wellbeing. The framework is demonstrated in two case studies: new construction and renovation investments in affordable housing and social impact investment in sustainable development. The investments in the case studies are evaluated, selected and prioritized not only in terms of money but also with regard to sustainability, social acceptability and their overall impact on society, as a whole. The results indicate that a systematic integrated assessment of monetary and non-monetary factors can be successfully combined with the sustainable development decisions.

AB - Investments towards sustainable development are vital for the future and they must be carefully planned to deliver immediate and long-term benefits. Hence, the ability to communicate the forms of impact of sustainable investments to local societies, people, investors and other stakeholders can provide a competitive advantage. However, the assessments are often under pressure to demonstrate short-term effects rather than emphasise the long-term impact. In addition, indirect and intangible forms of impacts should not be measured solely in economic terms. This paper proposes an assessment framework to support the integrated economic and social impact assessment of sustainable investments aimed at improving physical and socio-economic wellbeing. The framework is demonstrated in two case studies: new construction and renovation investments in affordable housing and social impact investment in sustainable development. The investments in the case studies are evaluated, selected and prioritized not only in terms of money but also with regard to sustainability, social acceptability and their overall impact on society, as a whole. The results indicate that a systematic integrated assessment of monetary and non-monetary factors can be successfully combined with the sustainable development decisions.

KW - investment

KW - impact

KW - sustainable development

KW - decision-making

KW - assessment

KW - affordable housing

U2 - 10.1515/mper-2016-0027

DO - 10.1515/mper-2016-0027

M3 - Article

VL - 7

SP - 79

EP - 86

JO - Management and Production Engineering Review

JF - Management and Production Engineering Review

SN - 2080-8208

IS - 3

ER -