Potential Sources for Financing Environmental Protection Projects – Focusing on Energy Efficiency

Milan Počuča; Rajko Tepavac; Jana Cvijic; Aleksandra Mitrović

doi:10.7595/management.fon.2015.0014

Milan Počuča University Business Academy in Novi Sad, Faculty of Law
Rajko Tepavac University Business Academy in Novi Sad, Faculty of Economy and Engineering management
Jana Cvijic Belgrade Business School
Aleksandra Mitrović University of Kragujevac, Faculty of Hotel Management and Tourism

DOI: https://doi.org/10.7595/management.fon.2015.0014

Abstract

This paper elaborates financial mechanisms for financing energy efficiency with particular emphasis on the resources from financial institutions and equity funds and capital from the companies themselves. By conducting relevant academic research of literature and data from print and electronic sources (statistical reports, laws and regulations, statements of companies and financial institutions), as well as from the practical experience of some countries, it has been observed that the poor representation of adapted financial mechanisms is a major constraint to the emergence of a culture of energy efficiency in most countries, including Serbia. Even where they exist they are not necessarily known to make use of successful experiences. By conducting an analysis of the relevant academic literature and an analysis of practical experiences in the domain of energy efficiency and renewable energy sources it was concluded that energy efficiency is a significant potential for growth of the economic strength of Serbia, and therefore incentives should nfluence a greater use of renewable energy and a reduction in use of the fossil fuels as an energy source.

Author Biographies

Milan Počuča, University Business Academy in Novi Sad, Faculty of Law

Milan Počuča was born in 1962 in Gospic, Croatia. He graduated from the Faculty of Law, University of Zagreb in 1986. He completed his master and doctoral studies at the Faculty of Law, University Business Academy Novi Sad. He has published more than 90 scientific papers in international and national journals, and also in international and national conferences and scientific conventions. He is a member of the Scientific Committee in several international scientific conferences and national scientific and professional conventions. He is currently employed at the Faculty of Law, University Business Academy Novi Sad as associate professor, where he is also a Vice Dean for science, quality and development.

Rajko Tepavac, University Business Academy in Novi Sad, Faculty of Economy and Engineering management

Ph. D. Rajko Tepavac (1957) graduated from the Faculty of Economics, Universityof Belgrade and acquired a title of authorized broker - dealer in 2000. He earned his Master’s Degree in Legal and Economic Sciences in 2006, at the Academy of Commerce in Novi Sad, and in 2008 he defended his doctoral dissertation and earned
his PhD in Economics. He is currently engaged as a member of the Executive Board of the “Dunav Insurance‘’ Company, where he is in charge of corporate governance, strategy and product development, at the University Business Academy, Fimek, in Novi Sad, in his capacity as assistant professor, where he is a lecturer at the
Insurance study course. He is the author of numerous books and papers, with special emphasis on diverse areas of security, regional development perspective, the insurance industry and legal regulation of these.

Jana Cvijic, Belgrade Business School

Jana Cvijic, assistant professor at the Belgrade Business School in Belgrade for the study subjects Accounting and Managerial Accounting. She graduated from the Faculty of Trade and Banking “Janicije and Danica Karic” in Belgrade.She defended her Master thesis “Contemporary global financial crisis” in 2011, at the Faculty of Economics and Engineering Management, Department of Business Economics and Finance, at the University Business Academy in Novi Sad, obtaining a title of Master of Science (MSc). Currently, she is attending her third year of Doctoral (PhD) studies at the Faculty of Economics and Engineering Management, Department of Business Economics, at the University Business Academy in Novi Sad.

Aleksandra Mitrović, University of Kragujevac, Faculty of Hotel Management and Tourism

Aleksandra Mitrović works as a teaching assistant at the Faculty of Hotel Management and Tourism in Vrnjačka Banja, University of Kragujevac. She completed her Bachelor Studies in Accounting and Corporate Finance as well as her Master studies at the Faculty of Economicsin Kragujevac. The fields of her scientific and professional interests are related to Accounting and Finance.

Potential Sources for Financing Environmental Protection Projects – Focusing on Energy Efficiency

Abstract

Author Biographies

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