The present study reveals the trends and features of the current state of financing the foreign countries’ transition to a new «green» economic growth model. To summarize the contemporary experience of countries’ integration into public administration practice the approaches and standards in the field of «green» investments financing.The subject of the study is the set of measures implemented by countries to develop sources of finance for «green» economy projects.Tasks: 1) to consider the principal directions of the «green» investments state policy support, its purpose, and the tools used; 2) to identify the market’s role in the «green» economy financing; 3) to clarify the main issues constraining private investments in «green» projects. The countries’ approach to «green» economic growth financing is examined in the present paper by means of common methods of scientific knowledge.There reviewed the arguments justifying the government support for «green» investments. There revealed the problems constraining the market «green» financing development and speculations about their origins. The study concludes that the countries’ economic policies are aimed at improving the existing model’s efficiency, not at the transition to the new «green» economy model. Thus, through the state support tools, there being generated strong signals signifying the creation of favorable market conditions for the functioning of a new economy sector – the sector of «green» technologies.
Механизм финансирования «зеленых» инвестиций как элемент национальной стратегии финансирования устойчивого развития Аннотация «Зеленые» инвестиции сегодня рассматриваются Правительством России и как инструмент решения экологических проблем, и как фактор экономического роста. Но до настоящего времени процесс перехода к «зеленой» экономике еще явно не определяется, поскольку не завершена настройка национального механизма финансирования «зеленых» инвестиций. В настоящей статье описываются результаты исследования распространенности в национальной деловой среде идей «зеленого» роста и в практике национальных компаний-«зеленых» инвестиций. Для анализа был собран массив данных, представленных на официальных сайтах 253 крупнейших национальных компаний. Помимо эмпирических данных изучены документы национального стратегического планирования на предмет отражения в стратегиях развития отраслей и территорий идей и принципов «зеленой» экономики, а также руководящие принципы, разрабатываемые глобальными институтами. В результате выявлена проблемная ситуация: низкий уровень «зеленых» инвестиций российского бизнеса обусловлен в том числе отсутствием четкой понятийной базы и правил. Решение проблемы лежит в плоскости достижения общественного согласия в отношении того, какие секторы национальной экономики следует признать приводящими к устойчивому развитию, а какие, наоборот, к неустойчивому.
The relevance of the research topic is determined by the need to respond to increased climate risks, which makes countries develop climate policies that can effectively meet sustainable development challenges and protect national economic interests. The transformation of climate policy causes the need to shift capital flows from “brown” economy sectors to “green” ones and integrate environmental factors into the process of making financial and investment decisions. At present, the EU is actively developing a climate finance system which will have an impact on the Russian economy. The article is aimed at outlining the changes in climate policies and financial strategies in the EU and Russia, influenced by the global climate agenda. It analyses the volumes and sources of climate finance mobilized by the EU, as well as regional support instruments in the transition period. The article determines the current changes in the Russian Federation’s climate policy. As a result of the research, the authors have come to the following conclusions. The EU is a vivid example of the fact that countries have long moved from climate change debates to the implementation of specific measures. The Russian Federation lags far behind the EU in terms of both mobilizing financial resources to ensure the transition to a low-carbon economy, and developing proven emission control instruments which help to stimulate the reduction of greenhouse gas emissions and fulfill the obligations under the Paris Agreement.
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