O.L. Pererva, N.V. Lavruhina

In work the question is necessity of use of system various on the significance of rates of discounting at an estimation of a ecologo-economic efficiency of investment projects, including investments in nature preservation. The method of discounting of cash flows which is the basic dynamic method of valuation of economic - ecological efficiency of investment decisions, is based on transformation into current cost of the future any way changed cash flows connected to functioning of object of investments, with use of rates of the discounting reflecting a level of yield and risk of the project. The rate of discounting - the norm of the compound interest used at recalculation of cost of cash flows for the certain moment of time. The choice of the rate of discounting is based on the analysis accessible alternative variants of investment with a comparable risk level (alternative cost of the capital). As consumption of many components of the general value of free goods has public character, there is a question on economic justice concerning mutual relations of company with persons and the organizations which are carrying out nature preservation, and also proprietors of natural resources and ecosystems with managing subjects and the investors of projects worsening an ecological situation in region and a condition of an environment as a whole. Introduction of system of rates of discounting allows to improve methodology of calculation of corresponding payments that who safeguards the nature, and also compensatory payments and actions concerning breaking integrity of ecosystems and their components in process of «traditional» economic activities.