The growth of renewable energy facilities worldwide creates new challenges for sustainable regional development. Unregulated investment flows in the green energy sector cause disparities in the deployment of various renewable energy technologies, worsen the ability to balance national energy systems, etc. This article is the first comprehensive study that offers a methodology for multifactor modeling of investment flows in regional green energy deployment considering the priorities of national, regional, and local authorities within the sustainable development concept. The proposed methodological approaches help (1) determine the types of renewable energy technologies for priority development in the region, (2) select specific green energy projects to receive budgetary support on territories, and (3) form the optimal mechanism for budget financing distribution on regional development of renewable energy technologies. The modeling factors include natural conditions and resource base of a territory; its economically feasible renewable energy potential; the territory’s energy needs; installed capacity and electricity generation of new green energy facilities; power plants’ life cycle duration, the investment amount, etc. The model approbation on the example of household solar and wind power plants in the Sumy region, Ukraine, has shown the need to significantly increase financial support for renewable energy projects, primarily due to the region’s energy deficit. Calculations revealed that the interest-free loan share for both technologies should be 2.843 and 2.844 times higher than the basic share of lending (20%). For the 30-kW solar power plant project, the indicator should be 64.67% instead of the basic one of 56.86% for home solar energy facilities. Thus, the methodological approaches presented in the article are new tools that allow territorial authorities to purposefully shape and manage investment flows in the renewable energy sector to ensure sustainable energy development of regions worldwide.
The most popular two-factor production functions used in the process of modeling sustainable economic development are examined. Economic and mathematical characteristics of Cobb-Douglas production functions, CES-function, linear function, Leontief and Allen functions are considered, in particular, type of dependence of labour productivity in relation to capital-labour ratio of commodity production system within mentioned production functions. Their most important economic and mathematical characteristics are presented: factors average and marginal return, demand for production resources, factor substitution, factors marginal rate of technical substitution, output elasticity by factors, elasticity of factors technical substitution, optimal capital-labour ratio according to the criterion of maximum output. Comparative analysis is given to Cobb-Douglas and CES-functions, which are two production functions mostly required in practice.
The issue of reforming the institute of state (public) procurement is one of the key directions of the modernization of the administrative sector of our state. Increasing the efficiency of this institute should be recognized as one of the conditions for ensuring stable economic growth. In this regard, issues relating to the assessment of the efficiency of the use of public funds are of particular interest. The indicators of the efficiency of the activity of the public procurement sector in Ukraine in the context of the introduction of the “ProZorro” electronic procurement system are calculated and analyzed. The existing works of the individual scientists in the direction of developing indicators of the efficiency that can be used to evaluate the results of the operation of the procurement logistics system in the public sector in Ukraine are generalized. As a result, approaches have been identified that can be used to determine the effectiveness of the participation of customers, private sector representatives and the system of electronic public procurement in general. On the basis of retrospective data of past years and the first half of the current year, a number of estimates of absolute and relative savings, as well as indicators of the effectiveness of the open bidding in the public sector of Ukraine have been identified. The dynamics of these indicators before and after the introduction of the “ProZorro” electronic procurement system was analyzed. The analysis shows that the first results of the functioning of the “ProZorro” system demonstrate the existence of negative trend of competition and reduction in the amount of savings in public funds. Ensuring high efficiency and competitiveness, integrity and transparency of the procurement process are the main tasks of the Ukrainian government in the field of public procurement. The authors argue that the introduction of the “ProZorro” system can help to solve them successfully, and the application of the analytics module enables to calculate the savings from the use of this system.
The study is devoted to the research of environmental compliance and business strategies of the practice of venture enterprises. The purpose of the study is to determine the role of environmental compliance in the business strategies of enterprises and to reveal the potential of a positive impact on sustainable development. The paper examines hypotheses regarding the favourable impact of environmental compliance on the competitiveness and innovative potential of enterprises. Environmental compliance and business strategies of enterprises have the potential to promote sustainable environmental development, which is currently only 10% used. This requires the active participation of enterprises in the implementation of environmental practices, investments in innovative solutions and the development of knowledge. The study highlights the need to support and promote practices such as venture entrepreneurship, which contribute to the creation of new environmentally relevant technologies, products and services. Therefore, the results of this work indicate the importance of developing and implementing ecologically appropriate business strategies in business practices. This can contribute to improving the environmental condition, ensuring sustainable development and strengthening the competitive positions of national economies.
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