Sustainable Development Projects as Opportunity for Economic Development of Bosnia and Herzegovina

Ajdin , Perčo and ERGÜN, Uğur (2012) Sustainable Development Projects as Opportunity for Economic Development of Bosnia and Herzegovina. In: 3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo.

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The global climate changes as a worldwide phenomena are on the top of the agenda of most states and international organizations. The adverse effects we currently feel and even worst things to come are stressing the need for action and firm resolution of this problem. In this sense, the need for ‘’environment friendly’’ energy is becoming top priority and renewable energy sources are in high demand. Furthermore, many countries are noticing this as a development potential and are investing in this sector. One of these countries is Bosnia and Herzegovina with its unlimited natural resources including wind, water etc. This paper will analyze ongoing and planed projects in the area of renewable energy and economic benefits Bosnia and Herzegovina will experience from it. Furthermore, after the adoption of Kyoto Protocol and creation of state agency Bosnia and Herzegovina is now eligible to apply for CDM (Clean Development Projects). These projects are financed by developed countries and are to be implemented in developing countries. It goes without saying that this is enormous opportunity for Bosnian companies and agencies to apply for these projects and bring foreign investments that will boost domestic economy. Besides this, the journey of Bosnia and Herzegovina towards European Union is requiring various laws to be adopted and implemented. One of these laws are rules and regulations related to the various aspects of climate changes and ways on how to combat climate changes. Financial incentives that European Union is providing to ‘’green energy’’ companies and renewable energy sources are additional motivation for Bosnia and Herzegovina to develop this are furthermore. Thereby in this paper I will address the current issue of climate changes and the need for renewable energy sources. Special focus will be on Bosnia and Herzegovina and the opportunities for economic development available through investing and working on ‘’green energy’’ and renewable energy projects. I will analyze current projects and future planned projects and their impact on economic development of Bosnia and Herzegovina. The focus of the research will be on various documents, projects and analysis currently available for this purpose. The main finding is that Bosnia and Herzegovina is truly a country with great potential for investments in renewable energy projects and the research paper will provide abundance of arguments for this statement.

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
Divisions: Faculty of Economics > Management Department
Depositing User: Users 173 not found.
Date Deposited: 01 Nov 2012 14:00
Last Modified: 01 Nov 2012 14:00

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