Green Financial Instruments of Cleaner Production Technologies

Round 1

Reviewer 1 Report

Reviewer Comments

Paper title: Green Financial Instruments in International Practice of Clean Production Technologies

 

The present manuscript describes the theoretical analysis of green financial instruments in stimulating corporate greening and ecomodernization technologies. Empirical evidence and a discussion of the results as well as highlighting important conclusions in the case of green financial instruments in the international practice of clean production technologies are presented in detail.

A manuscript has a practical application and also provides important theoretical for the next studies.

The paper can be accepted for publication after providing the corrections mentioned below.

 

Point 1. In the Introduction section, an enhanced literature review is required. For this study, the authors have used only 10 literature sources. It seems insufficient for such type of research. It will be great if the authors show some description in context – Why it is important to conduct this study?

 

Point 2. It is necessary to give a description of the y-axis in Figure 10 as well as indicate the measuring value. As I understand it should be: y-axis – Environmental tax revenues, million EUR.

Moreover, avoid so large digits. So, you can use 200 instead of 200,000.00. In this case, y-axis will be Environmental tax revenues, billion EUR.

 

Point 3. The same case as with a Figure 1. y-axis Total environmental tax revenues, billion EUR. Y-axis from 200 to 360.

 

Point 4. Please see Point 2 and correct Figure 3.

 

Point 5. What are the measuring units in Table 1 when mentioned “Labor tax (??)” and “Environmental tax (??)”?

 

Point 6. Y-axis must be provided with the text description in Figure 4.

 

Point 7. Please describe the methodology for determining the forecast values of environmental tax revenues in the EU budget. Show the formulas and methods by which the research was carried out in the Section 4. Empirical Analysis of Environmental Taxes.

 

Point 8. Show the mechanism of increasing the capital of economic entities when using financial management tools, in ecologization of technologies in the Section 5 “Results”.

 

Point 9. When studying international experience, it is necessary to give a clearer author's definition of the concept of "Green Financial Instruments" and, in particular, "Hybrid Green Financial Instruments".

 

Point 10. Authors should provide a short description of further research in the Discussion section.

 

Point 11. Please consider the suggested research in your paper when enhancing the literature review:

 

1). Sybir, A., Hubynskyi, M., Fedorov, S., Hubynskyi, S., Vvedenska, T., & Bezuglyi, V. (2020). Effect of heat shock on graphitization of Donbass anthracite. Mining of Mineral Deposits, 14(3), 43-49. https://doi.org/10.33271/mining14.03.043

Important issue: “Coal is one of the most important energy resources, whose share in global energy consumption is 28%, and the share in Ukraine’s electricity generation is about 44%. That is, coal is a resource that ensures the country’s energy security. However, one of the main trends in the development of the coal industry in the world is reduction in the production and consumption of coal. This is happening due both to the economic crisis and increased competition in the energy market, as well as to the decarbonization of the economy and the fulfilment of obligations to reduce greenhouse gas emissions. Thus, the volume of emissions by 2050 should not exceed 1000 Gt CO2, and this can only be realized if 88% of the world’s proven coal reserves remain in the ground. This applies both to the energy industry, where solar and wind power plants are being actively commissioned, and to metallurgy developing hydrogen-free coke technologies.

 

2). Matkivskyi, S. (2022). Increasing hydrocarbon recovery of Hadiach field by means of CO2 injection as a part of the decarbonization process of the energy sector in Ukraine. Mining of Mineral Deposits, 16(1), 114-120. https://doi.org/10.33271/mining16.01.114

Important issue: “Use of carbon dioxide in oil and gas field is a promising trend within the whole process of decarbonization of Ukrainian energy sector. It should be noted that in this case carbon dioxide acts as a useful product that helps increase the final hydrocarbon recovery factors”.

 

Supplementary literature in issues of decarbonization and clean technologies:

3). Savina, N., Sribna, Y., Pitel, N., Parkhomenko, L., Osipova, A., and Koval, V. (2021). Energy Management Decarbonization Policy and its Implications for National Economies. IOP Conf. Ser. Earth Environ. Sci. 915 (1), 012007. https://10.1088/1755-1315/915/1/012007

4). Vatalis, K. I., Avlogiaris, G., and Tsalis, T. A. (2022). Just Transition Pathways of Energy Decarbonization under the Global Environmental Changes. J. Environ. Manage. 309, 114713. https://10.1088/10.1016/j.jenvman.2022.114713

5). Bazaluk, O., Ashcheulova, O., Mamaikin, O., Khorolskyi, A., Lozynskyi, V., & Saik, P. (2022). Innovative activities in the sphere of mining process management. Frontiers in Environmental Science, (10), 878977. https://doi.org/10.3389/fenvs.2022.878977

6). Markevych, K., Maistro, S., Koval, V., & Paliukh, V. (2022). Mining sustainability and circular economy in the context of economic security in Ukraine. Mining of Mineral Deposits, 16(1), 101-113. https://doi.org/10.33271/mining16.01.101

 

 

Point 16. In general, I must admit that a very good study was performed.

Author Response

Dear reviewer,

Thank you very much for your valuable advice and comments. Tried to fix it as much as possible.  Changes in the text are also highlighted in red.

Author Response File: Author Response.docx

Reviewer 2 Report

sustainability-1858437-peer-review-v1

 

Comments and Suggestions for Authors

The paper entitled "Green Financial Instruments in International Practice of Clean
Production Technologies" is based on a novel algorithm and its applications. The article can be considered only if it is revised.

1. The abstract must be written completely again. I found nothing attractive in the abstract. The abbreviations are not defined. 

2. Do not use abbreviations in the abstract.

3. The authors discussed several times what they are going to propose but did not discuss the research gap or what are the sole reasons for this research. 

4. The literature review is not sufficient enough. Please provide more details about the literature review by considering the latest articles.

5. A comparative study if included would have an impact.

6. The authors wrote the conclusion in a rush. Please describe your achievements in detail. 

7. Motivation is not sufficiently stated in the introduction part. It should be clarified why they consider this problem and what advantages of the proposed technique are. The original contributions need to be much better presented in the last paragraph of section ''INTRODUCTION".

8. Extend the Discussion section. It is too small.

Author Response

Dear reviewer,
Thank you very much for your valuable advice and comments. Tried to fix it as much as possible.  Changes in the text are also highlighted in red.

Author Response File: Author Response.docx

Round 2

Reviewer 1 Report

Dear authors,

I am more than satisfied with the corrections provided by you.

This study is an important contribution to the field of mining.

Congratulations to the authors.

 

Dr. V. Lozynskyi

Reviewer 2 Report

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