Maintaining Environmental Sustainability through Public Financing. Insights from Kazakhstan
Abstract
The effectiveness of the distribution of financial resources that affect environmental sustainability through public financing has recently become of particular relevance. The availability of credit financing for business remains one of the most significant factors affecting the business environment, the development of entrepreneurship and the economy as a whole. The government is taking steps to reduce risks, including environmental risks, and to ensure that property rights are protected from the consequences of adverse events by promoting public-private partnerships, which have proven to be a successful way for businesses and the state to interact in Kazakhstan.
References
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[22] *** World Bank. Private Participation in Infrastructure (PPI) 2020 Annual Report. 2021. Available at: https://ppi.worldbank.org/content/dam/PPI/documents/PPI_2020_AnnualReport.pdf
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[24] *** Official Decree of the Government of the Republic of Kazakhstan for 2022. The Concept for the Development of the Financial Sector of the Republic of Kazakhstan until 2030. Available at: https://adilet.zan. kz/
[25] *** Official resource Data of the Committee on Statistics of the Republic of Kazakhstan for 2021. Available at: http://www.stat.gov.kz
[26] *** Official Review of environmental performance. UNECE. Available at: www.https://unece.org/
[2] Andrés, P., Fuente, G., and San Martín, P. 2020. Capital budgeting practices in Spain. Business Research Quarterly, 18(1): 37-56. DOI: http://dx.doi.org/10.1016/j.brq.2020.08.002
[3] Autio, E., et al. 2021. Entrepreneurial innovation: The importance of context. Research Policy, 43(7): 1097–1108. DOI: https://doi.org/10.1016/j.respol.2020.01.015
[4] Bennouna, K., Meredith, G.G., and Marchant, T. 2020. Improved capital budgeting decision making: Evidence from Canada. Management Decision, 48(2): 225-247. DOI: http://dx.doi.org/10.1108/002517 41011022590
[5] Guerrero, M., Liñán, F., and Cáceres-Carrasco, R. 2021. The influence of ecosystems on the entrepreneurship process: a comparison across developed and developing economies. Small Business Economics, 57: 1733–1759. DOI: https://doi.org/10.1007/s11187-020-00392-2
[6] Hall, J., and Millard, S. 2021. Capital budgeting practices used by selected listed South African firms. South African Journal of Economic and Management Sciences, 13(1): 85-97. DOI:http://dx.doi.org/10.4102/sajems.v
[7] Karman, A. 2019. The role of human resource flexibility and agility in achieving sustainable competitiveness. International Journal of Sustainable Economy, 4(11): 324–346. DOI:https://doi.org/10.1504/IJSE.2019.103472.
[8] Kickul, J., Lyons, T.S. 2021. Financing Social Enterprises. Entrepreneurship Research Journal, 5(2): 83-85 DOI: https://doi.org/10.1515/erj-2015-0006
[9] Ma, M., Wang, N., Mu, W. and Zhang, L. 2022. The Instrumentality of Public-Private Partnerships for Achieving Sustainable Development Goals. Sustainability. 14, 13756. DOI: https://doi.org/10.3390/ su142113756
[10] Maksyshko, N., Vasylieva, O., and Polova, A. 2020. Method of investment projects evaluation for territorial communities taking into account the concept of sustainable development. The International Conference on Sustainable Futures: Environmental, Technological, Social and Economic Matters (ICSF 2020), 166: 20-32. DOI: https://doi.org/10.1051/e3sconf/202016613020
[11] Mishenina, H, and Dvorak, J. (2022). Public–Private Partnership as a Form of Ensuring Sustainable Development of the Forest Management Sphere. Administrative Sciences, 12(4):156. DOI:https://doi.org/10.3390/admsci12040156
[12] Souza, P., and Lunkes, R. J. 2021. Capital budgeting practices by large Brazilian companies. Contaduría y Administración, 61(3): 514-534. DOI: http://dx.doi.org/10.1016/j.cya.2021.01.001.
[13] Strasser, S., et al. 2021. Collective insights of public-private partnership impacts and sustainability: A qualitative analysis. PLoS ONE, 16, e0254495. DOI: https://doi.org/10.1371/journal.pone.0254495
[14] Strezov, V., Evans, A., and Evans, T.J. 2017. Assessment of the Economic, Social and Environmental Dimensions of the Indicators for Sustainable Development. Sustainable Development, 3(25): 242–253. DOI:https://doi.org/10.1002/sd.1649
[15] Toloo, M., Nalchigar, S., and Sohrabi, B. 2018. Selecting most efficient information system projects in presence of user subjective opinions: a DEA approach. Central European Journal of Operations Research, 26(4): 1027-1051. DOI: http://dx.doi.org/10.1007/s10100-018-0549-4.
[16] Urbano, D., Aparicio, S., and Audretsch, D. 2019. Twenty-five years of research on institutions, entrepreneurship, and economic growth: What has been learned? Small Business Economics, 53(1): 21–49. DOI: https://doi.org/10.1007/s11187-018-0038-0
[17] Wang, H. M., Xiong, W., Wu, G.D., and Zhu, D.J. 2018. Public-private partnership in public administration discipline: A literature review. Public Manag. Rev., 20: 293–316. DOI: https://doi.org/10.1080/14719037. 2017.1313445
[18] Wang, N.N., and Ma, M.X. 2021. Public-private partnership as a tool for sustainable development-What literatures say? Sustain. Dev., 29: 243–258.
[19] Zhai, W. J., Ding, J. Y. and Ding, L. J. 2021. Investment risk grade evaluation of new town construction PPP projects: Perspective from private sector. J. Urban Plan. Dev., 147, 2. DOI: https://doi.org/10.1061/(ASCE) UP.1943-5444.0000665
[20] *** Official Report on the state of development of small and medium-sized businesses in Kazakhstan for 2021. Available at: https://damu.kz/
[21] *** Official resource of https://kursiv.kz/news/ekonomika/2019-10/50-vsekh-investiciy-v-selskoe-khozyaystvo-v-rk-prishlos-na-tri-regiona
[22] *** World Bank. Private Participation in Infrastructure (PPI) 2020 Annual Report. 2021. Available at: https://ppi.worldbank.org/content/dam/PPI/documents/PPI_2020_AnnualReport.pdf
[23] *** World Bank. Procuring Infrastructure Public-Private Partnerships Report. 2018. Available at: https://ppp.worldbank.org/publicprivatepartnership/sites/ppp.worldbank.org/files/documents/Procuring%20Infrastructure%20Public-Private%20Partnerships%20_2018_EN2_0.pdf
[24] *** Official Decree of the Government of the Republic of Kazakhstan for 2022. The Concept for the Development of the Financial Sector of the Republic of Kazakhstan until 2030. Available at: https://adilet.zan. kz/
[25] *** Official resource Data of the Committee on Statistics of the Republic of Kazakhstan for 2021. Available at: http://www.stat.gov.kz
[26] *** Official Review of environmental performance. UNECE. Available at: www.https://unece.org/
Published
2023-03-10
How to Cite
KURMANALINA, Anar et al.
Maintaining Environmental Sustainability through Public Financing. Insights from Kazakhstan.
Journal of Environmental Management and Tourism, [S.l.], v. 14, n. 1, p. 207 - 216, mar. 2023.
ISSN 2068-7729.
Available at: <https://journals.aserspublishing.eu/jemt/article/view/7643>. Date accessed: 31 may 2025.
doi: https://doi.org/10.14505/jemt.v14.1(65).20.
Section
Article
Copyright© 2025 The Author(s). Published by ASERS Publishing 2025. This is an open access article distributed under the terms of CC-BY 4.0 license.