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Sustainable Capital Investment at Port de Barcelona
Xavier Sales and Jordi Carenys
EADA Business School, Barcelona, Spain
Scott Kerth
Lewis University, USA
Volume 20: 2025, pp. 509-522; ABSTRACT
Ports worldwide face the dual challenge of investing in infrastructure to meet growing demand while advancing sustainability goals. This teaching case examines the multifaceted challenges the Port of Barcelona confronted when evaluating a 25-year concession proposal for a new cruise terminal. Students assume the role of port executives tasked with determining the concession’s annual fee, navigating the balance between financial viability and the port’s decarbonization goals. The case offers a rich context for applying capital investment analysis, including Net Present Value (NPV) calculation, relevant cash flow identification, and forecasting under uncertainty, while distinctively tasking students with calculating the required revenue stream to achieve a target NPV of zero. Crucially, the case integrates sustainability by examining the financial implications of carbon emissions and the utilization of voluntary carbon credits. The case is designed to foster critical discussion on aligning business strategy with sustainability. The case is ideal for courses in sustainable finance, responsible management, and environmental economics.
Keywords: capital investment, NPV, carbon credits, greenhouse gas emissions, sustainability, port management.
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