Integrating Net Zero Financing Mechanisms into UK Project Management Systems
1 Independent Researcher, United Kingdom.
2 Independent Researcher, Nigeria.
Research Article
World Journal of Advanced Research and Reviews, 2024, 23(02), 2939-2948
Publication history:
Received on 18 July 2024; revised on 24 August 2024; accepted on 27 August 2024
Abstract:
This study investigates the integration of net zero financing mechanisms into UK project management systems, addressing the critical need for sustainable project delivery in the context of the UK's 2050 net zero commitment. Through a mixed-methods approach combining quantitative analysis of 347 UK-based infrastructure projects and qualitative interviews with 45 project management professionals, this research identifies key barriers and enablers to integrating green finance into project management frameworks. The quantitative analysis reveals that projects incorporating net zero financing mechanisms demonstrate 23% higher sustainability performance scores and 18% improved stakeholder satisfaction compared to traditional financing approaches. However, only 34% of surveyed projects have successfully integrated green finance tools into their project management systems. Key findings indicate that integration challenges include lack of standardised carbon accounting frameworks (cited by 78% of respondents), insufficient training in green finance mechanisms (65%), and misalignment between traditional project success metrics and sustainability objectives (71%). The study proposes a conceptual framework for Net Zero Project Management Integration (NZPMI) that synthesises green finance mechanisms with established project management methodologies including PRINCE2 and PMBOK standards. The framework introduces five core integration domains: carbon budgeting and accounting, green finance instrument selection, stakeholder engagement for sustainability, risk management for climate transition, and performance measurement aligned with net zero targets. This research contributes to both academic literature and professional practice by providing empirical evidence on the effectiveness of green financing integration and offering practical guidance for project managers seeking to align project delivery with net zero objectives. The findings have significant implications for policy development, professional training programmes, and organisational strategy in the UK construction and infrastructure sectors.
Keywords:
Net Zero Financing; Project Management; Green Finance; Sustainability Integration; Carbon Accounting; UK Infrastructure; PMBOK; Sustainable Development
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