Features of financial support for environmental projects in the green economy

Abstract

The article is devoted to the study of the main forms, methods and problems of financing environmental projects within the framework of the functioning of the green economy, taking into account the specifics of the functioning of the domestic financial system. The relevance of the study lies in the fact that achieving the main parameters of the declared green economic course is impossible without the use of the most progressive forms, methods and instruments of financial support for environmental projects. The purpose of the work is to study the theoretical aspects of financial support for environmental projects in the Russian Federation, contributing to the transition to a green economic course and increasing efficiency in the implementation of these projects.When conducting the study, general scientific methods of cognition were used: – dialectical materialism, inspection observation; methods of economic and statistical analysis, comparison and generalization were used to generalise domestic and foreign experience in the financial support of environmental projects.Having studied the features of financial support for the green economy, the team of authors concluded that there is a predominance of state financing of investment projects in the field of ecology, while the mechanism of public‐private partnership in fact does not function at the proper level and private investments in environmental projects are unattractive from the standpoint of profitability and profitability. Currently, the volume of financing for the transition to the “green deal” is at the level of 20–25% of the required need for the implementation of an ambitious project: in this regard it is necessary to search for ways aimed at increasing the efficiency of financing the green economy.The authors studied the features of financial support for environmental projects in the green economy. Financing problems are identified and recommendations for solving them are given.