Empirical Analysis of “GHG Emission Avoidance” Calculation for Selection of Sustainable Environmental Projects

Innovative environmental projects, selected for co-financing, must contribute to the green recovery of Europe’s economy and maintain the momentum in its transition to climate neutrality. However, measuring overall sustainable environmental efficiency of a project is a complex matter. The “GHG emission avoidance” indicator, which began to appear in the award criteria of the environmentally oriented tenders of the European cohesion policy for the Programme period 2021-2027, enables the allocation of funds based on the achieved environmental benefits. The purpose of this paper is to present theoretical background and practical calculation of the “GHG emission avoidance” indicator. An absolute and relative indicator is analysed, with which investors quantitatively evaluate the potential for avoiding emissions, generated in the case of project implementation. The research part of this article is presented through case study of a project in the sector of glass, ceramics and building materials in energy-intensive industry, in which contribution of the selected sustainable project to the EU vision for a climate-neutral economy is demonstrated.