Annotation of the results obtained in 2023
All the assigned tasks were completed on a full scale during the second year of the project: 1) The approach to the management of energy investment projects in the context of the transition to the circular economy ideology is justified. The strategic directions of introducing the principles of circular economy into the management of traditional energy enterprises are highlighted. Forward-looking approaches to increasing the resource efficiency of energy production and improving waste management are identified. The conclusion is made about the adaptability of most of circular economy principles to the energy sectors’ specifics within the framework of the "producer-consumer" model and about the possibilities of introducing circular business models for resource recovery and prolongation of the product life cycle. A list of barriers to the introduction of circular economy principles in traditional energy sector was formed, and tools for overcoming them were proposed. The directions of irrational use of resources in the traditional energy sector are identified and ranked, the most resource-intensive process is revealed, which is the basis for making resource-saving decisions in accordance with the principles of circular economy. The approach to the management of energy investment projects is justified considering the principles of circular economy, including a comprehensive environmental and economic assessment, an approach to accounting and assessing the formation of production and consumption waste; the proposed model of resource efficiency management, which allows optimizing resource-saving measures and reducing negative environmental impact. 2) The current waste management practices were studied and the possibilities of their application at Russian energy enterprises for the purpose of ecological utilization of production waste were evaluated. The features of waste generation process, types and structure of waste in the energy sector and the possibility of its disposal are determined. Three groups of waste were identified, each of which corresponds to a specific production process. Consumption waste was also considered. Approaches to the waste management in the energy sector are systematized depending on the type of waste, their hazard class, availability of necessary equipment and infrastructure. Based on the review and analysis of waste management practices at energy enterprises, current industry problems in this area and possible solutions were identified. The prospects of using the latest waste management practices corresponding to the ideology of the circular economy at Russian energy enterprises, including possible directions for the disposal of ash and slag waste, improving the technology for cleaning energy equipment and handling other types of waste at all types of power plants, are determined. The methodology for efficiency assessment of waste management at energy enterprises was improved based on the proposed list of production waste and analysis of current practices for their management using the Life Cycle Impact Assessment approach, in which the environmental impact is assessed at all stages of the life cycle of both a single product and an enterprise or investment project. It is proposed to account for waste in two directions: to generate cash flows of the project and to assess the eco-efficiency of the energy project. Recommendations on the use of the proposed system of accounting and assessment of production and consumption waste generation are given. 3) Practical recommendations were developed on the application and improvement of the proposed methodological tools for the environmental and economic assessment of investment projects in the energy sector in the framework of the transition to a circular economy, considering the importance of the assessment criteria introduced in the project implementation region. A list of sectoral indicators of natural resources capacity and environmental compatibility of energy production was developed, equations for their calculation were supplemented and finalized, recommendations on the use of the proposed methodological tools within the framework of the environmental and economic assessment of investment projects in the energy sector were developed. To evaluate the project regarding changes in resource consumption and environmental impact, it is proposed to use dimensionless efficiency indicators calculated relative to the natural resources capacity and environmental compatibility of energy production and used in constructing the equation for calculating the integral indicator of environmental and economic assessment, which also considers their significance using weight coefficients reflecting the current environmental situation in the region separately for the considered natural environments. Approaches to determining the weight coefficients are proposed. Recommendations on the interpretation of the values of the integral assessment indicators were developed. 4) The adaptation of the developed methodological tools for the environmental and economic assessment of energy investment projects for green energy enterprises (using the example of biogas energy technologies), traditional energy, and small-scale energy generation facilities was carried out. The type of fossil fuels used is considered when assessing the environmental compatibility of investment projects at traditional energy facilities using data on the elemental composition of fuels in Russia and average calorific values by calculating specific coefficients of greenhouse gas emissions and oxygen consumption, reduced to the natural gas equivalent. A methodological approach to the assessment of investment biogas energy projects is proposed, including the calculation of an integrated environmental index of greenhouse gas emissions, which allows considering changes in their volume when replacing traditional energy with biogas energy technologies in small-scale generation both due to the carbon neutrality of biogas used for energy production and by preventing the greenhouse effect resulting from the combustion of fossil fuels. The stages of a comprehensive environmental and economic assessment of the efficiency of biogas energy projects are substantiated and the factors influencing the achieved environmental effect are highlighted. The proposed approach provides a clear and consistent understanding of the main benefits and prospects for various groups of stakeholders in the implementation of an investment project. 5) The developed tools were tested at specific energy facilities. The approbation of the methodology of environmental and economic assessment of investment projects in the energy sector was carried out at the regional thermal power plant located in the Chelyabinsk region. The approbation of a methodological approach to a comprehensive environmental and economic assessment of the effectiveness of biogas energy projects was carried out on the case of using the energy potential of biodegradable waste from sewage treatment plants located in the Sverdlovsk region, with partial replacement of centralized energy supply. The developed methodology for a comprehensive assessment of resource efficiency, including an environmental and economic assessment, and a model for managing the efficiency of using fuel and energy resources were tested at the enterprises of Gazprom Transgaz Surgut LLC and Gazprom Dobycha Nadym LLC. The testing results confirmed the effectiveness of the developed tools and made it possible to work out management decisions and give practical recommendations that ensure economic, organizational and technological effect. 6) Articles on research results were prepared and published in peer-reviewed journals, presentations of the results were made at international conferences on the subject of research areas. 5 articles were prepared and published in journals indexed in Scopus and WoS (including an article in the journal Q1 (Scopus)). 2 presentations were made at international conferences. 7) A monograph based on the research results was prepared. Based on the results of the research, a monograph was prepared and published.

 

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Annotation of the results obtained in 2022
The goals set up for current year were fully completed. 1) The approaches for environmental and economic efficiency assessment of investment projects in the energy sector described in Russian and foreign literature, have been considered and systematized, their disadvantages and advantages have been identified; The conducted analytical study revealed that at present the general and recognized approach for assessment of the environmental and economic efficiency of investment projects in the energy sector does not exist. The most common methodological approaches have limitations: in particular, they are designed to solve a wide range of problems and do not consider the specifics of the energy sector; focused mainly on environmental or economic assessment, and have a weak environmental-economic relationship; require significant input data, require a high level of software, hardware and staffing; do not consider the conditions for the transition towards circular economy. The results obtained through the research confirm the urgent need for the improvement of the scientific and methodological framework of the environmental and economic assessment of investment projects in the energy sector, considering the peculiarities of the transition towards circular economy. 2) The scientific and methodological framework of the environmental and economic assessment of investment projects in the energy sector has been improved, taking into account the peculiarities of the transition towards circular economy; - the methodological framework of the environmental and economic assessment of investment projects in the energy sector, considering the peculiarities of the transition towards circular economy, along with the technical and economic features of the industry were formed; Indicators of the environmental and economic assessment of projects for the implementation of the main sectoral strategies towards the circular economy, corresponding to a set of criteria indicators determined for each strategy, are selected and adapted for the energy sector. A matrix toolkit for its comparison is proposed in order to select the best project alternatives. It is presented that the resource efficiency and the waste intensity of energy production is of a great importance in the context of the transition towards circular economy. The basic principles for the assessment of the investment projects in the energy sector in the context of the transition towards a circular economy were formed. Alternative approaches to the environmental and economic evaluation of the investment projects are proposed using the following tools: an integral indicator of environmental and economic efficiency; specific indicators which consider the natural resource intensity and environmental friendliness of projects; integrated environmental and economic scoring. The proposed methodological approach can be used for the environmental and economic assessment of the implementation of investment projects in the energy sector, as well as for comparing alternative project options; it increases objectivity and formalizes the procedure for making management decisions in the context of the transition towards a circular economy. - A conceptual approach for multipurpose assessment of the resource efficiency of companies, working in the fuel and energy sector is proposed (based on the example of the leading enterprises in the gas industry), and key points are highlighted. According to the described approach, environmental and economic assessment is included into the multipurpose assessment of the resource efficiency. The proposed methodology includes an integral calculation and a comparative assessment of indicators reflecting the performance of the economic, environmental, industrial, financial, investment and energy activities of the considered object. The developed approach can be used both for a comprehensive assessment of energy enterprises and for comparing investment projects in the energy sector. 3) Criteria for assessing the environmental and economic efficiency of investment projects in the energy sector have been introduced; Based on the double screening of the results of the conducted expert survey, a necessary and sufficient set of key criteria (factors) was determined, which create the basis for the development of the indicators for a multipurpose environmental and economic assessment of investment projects in the energy sector, considering the principles of the circular economy. It has been proven that the factors that are directly related to the type and amount of fuel used for energy generation are of the great importance. The selected factors consider the multidimensional nature of the negative impact of the investment project on the environment, considering the specifics of the energy sector of the economy, and are the basis of the developed approach to the environmental and economic assessment of investment projects in the energy sector. 4) Methodological tools for environmental and economic assessment of investment projects in the energy sector have been developed (specific indicators, a system of performance indicators); The proposed list of criteria (factors) for assessing the environmental and economic efficiency of investment projects in the energy sector granted an opportunity for the development of specific indicators. Approbation of the proposed set of indicators was carried out on the case study concerning the implementation of the investment project for the eco-modernization of a regional energy facility. The results of testing have demonstrated the high efficiency of the developed system of indicators. Within the transition towards circular economy, according to the conducted research, the main components of the environmental assessment include the indicators of environmental capacity (efficiency assessment of natural resources use) and the environmental friendliness of energy production, while the main components of the economic assessment include current costs, capital expenditures, payment for negative impact on the environment and profit. Due to the complexity of complete account of externalities, in order to evaluate alternative investment projects, it is necessary to apply appropriate simplified approaches for assessment of the effectiveness of its implementation. A possible option is to take into account only the most significant for the region under consideration positive results and negative consequences determined by experts. The main stages of the procedure for environmental and economic evaluation of investment projects in the energy sector are proposed. The decomposition of a comprehensive assessment of resource efficiency is carried out, a system of indicators is proposed for assessing the resource efficiency of enterprises and investment projects in the fuel and energy sector, including the calculation of the integral coefficient of resource efficiency, using the example of leading companies in the gas industry. Environmental and economic assessment of investment projects in the energy sector in terms of the transition towards the circular economy, creates prospects for funding engagement for its implementation. In terms of low energy prices in the Russian Federation, renewable energy projects have a low priority for private investors, and an investment program financed by service tariffs may be the most appropriate financial tool. 5) The results of the investigations are published in international journals and presented at the international conferences. 5 articles are published (3 articles are indexed in the international databases Scopus and WoS, including 1 article in the Q1 journal). 3 reports were presented at the international conferences.

 

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