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Environmental projects have a number of distinctive features, among them an increased capital/output ratio, relatively high risks, lengthy payback periods, and outcomes that are hard to evaluate using financial indicators. Public private partnership (PPP) appears to be a viable approach for the implementation of such projects; however, existing mechanisms for the accommodation of long-term interest of the state, business and civil society are inadequate to ensure their success. In this context, the author presents an algorithm of multi-criteria analysis to evaluate the social efficiency of PPP-based environmental projects, which takes into account the impact of both financial and non-financial outcomes and includes crowdsourcing public opinion into the final decision-making process. Special priority is given to the assessment of multiplicative effects, as their role and impact on the feasibility of investment are often underestimated. The author’s conclusions and recommendations are illustrated using the case study of a construction project for a municipal solid waste processing facility. 1 Andrey Margolin is Vice Rector at the Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia. 2 Valentin Krasnoshchekov is Head of the Chair of Environmental Management of the Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia. 2 Review of European and Russian Affairs 11 (2), 2017 I believe that we can still save our planet and all of its inhabitants. ―Leonardo DiCaprio, American actor

review of european and russian affairs

Accommodation of Interests of the State, Business and Civil Society in Environmental Projects Implemented Through Public Private Partnership in the Russian Federation