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

    2 Citations (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

    Keywords

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

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