Environmental investment governance in Latvia: planning process and decision-making framework development

Abstract

Applying governance process cycle steps model (5P model), the study focuses on the national environmental investment governance process by structuring and characterizing, particularly, investment planning process, including the integrative in-depth analysis of investment thematic content and framework (inextricably linked to the sectorial needs). Investment allocation is the governance instrument to be especially emphasized as being also necessary for the eventual implementation of all other governance instruments (such as infrastructure or communication ones), which all need financial support for their development, implementation or innovation. The study includes the investment instrument selection analysis at the policy planning stage for the most efficient investment and all sectorial policies implementation in order to reach the defined environmental governance goals. The study is practice-based research with elements of the participatory action research. Study is currently also topical since national investment planning process and final document is in the development process, detecting the main fields of investment in Latvia for the next 8 years. The structure and specifics of the planning stages of environmental investment governance process were identified along with related deficiencies and improvement needs, and, there were developed structured decision-making frame recommendation, based on the three main factors and subsequent set of complementary aspects identified as necessary required assistance to decide on the investment allocations.