Handbook of Environmental and Sustainable Finance

Chapter 7

Public Value of Environmental Investments

A Conceptual Outlook on the Management of Normatively Determined Risks

Camillo von Müller¹,  and Steven A. Brieger^{1,2     1}Center for Leadership and Values in Society, University of St. Gallen, St. Gallen, Switzerland     ²Institute of Corporate Development, Leuphana University of Lüneburg, Lüneburg, Germany

Abstract

In this chapter we assume the perspective of environmentally conscious investors. We hold that the latter are interested in both the objective determinants and the subjective factors that determine if and to what extent owners of an externalities producing technology incorporate these externalities into their production functions. We use public value theory as concept that explains the ...