Integration von Nachhaltigkeitskriterien in Investitionsentscheidungen: Eine Entscheidungsanalyse im produktionsbezogenen Investitionsgüterbereich

Abstract

For decades, global warming and its causes have been debated both in scientific communities and among the general public and, with a few exceptions, a general consensus has since been reached. Global warming has been identified as a real and serious problem. Companies have a particular responsibility here because they play a key role in the global economy and play a decisive role in determining the direction in which markets and technologies develop. They are not only major consumers of resources, but also the main producers of greenhouse gas emissions. At the same time, companies have the opportunity to bring about positive change through innovation and sustainable business models. This applies to all economic sectors and all company sizes. It is therefore up to small companies as well as SMEs and large corporations to make their contribution. Sustainable companies recognize risks and take advantage of opportunities in order to use their influence to solve climate issues. Three dimensions need to be considered and brought into alignment in order to create additional added value at business, environmental and social level. The economic, ecological and social dimensions. Furthermore, companies also have responsibilities that must be met. On the one hand, there is legal responsibility, i.e. that laws are complied with. In addition, there is economic responsibility, i.e. that profits are generated in order to ensure the continued existence of the company. The third component is sustainable responsibility, i.e. the obligation of the respective company to contribute to the common good. This paper looks specifically at investment decisions, as they play a central role in the strategic orientation of companies and often have a long-term impact on their environmental and sustainability balance sheet. The question of which sustainability factors are considered in investment decisions and to what extent they are relevant is investigated. To this end, the current state of the literature is surveyed and summarized. Experts from different companies and industries are also interviewed and the statements and findings systematically extracted from the interviews are linked to the literature. Finally, findings are summarized and conclusions are drawn.

Date of Award	2024
Original language	German (Austria)
Supervisor	Josef Wolfartsberger (Supervisor)