Economic Bulletin of the National Mining University


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Article

Issue:2019 №1 (65)
Section:Environmental management
UDK:621.515.004.82:621.57
DOI:https://doi.org/10.33271/ev/65.166
Article language:Ukrainian
Pages:166-180
Title:Mechanisms of financing «green» investments
Authors:Zakharchenko N. V., Pridniprovska Academy of Civil Engineering and Architecture,
Borysenko N. V., Pridniprovska Academy of Civil Engineering and Architecture
Annotation:The mechanisms of ecological investments financing aimed at creating an effective system of state regulation of «green» economy are considered. The financial mechanisms and financial instruments of «green» investment are analyzed. It is established that green economy development can’t be achieved without the determination of key players, the corresponding operational channels and financial instruments, the creation of a transparent reporting system and risk management system. It is proposed to consider stock market mechanisms in the system of investment and financial mechanisms of the «green» economy as a complex of methods and instruments of capital reallocation between investors (creditors) and borrowers. The disadvantages of the legislative framework regulating the environmental project's financing are pointed out, and the priority directions of their elimination are identified. It is noted that there is a need to consolidate the economic, environmental and organizational aspects of green investment at the legislative level, as well as to solve the main problems arising on the way of green investment. Among that problems are: the lack of information about the purpose of funds that have not been yet spent in Ukraine under the scheme of target ecological («green») investments; inefficient financing of projects under the green investment scheme; the violation of the established terms of heat sanitation projects implementation at the expense of funds received from the quotas sale under the Kyoto Protocol; the lack of quality control and monitoring of projects implementation under the green investment scheme, etc. «Green» projects currently working in other countries are analyzed, possible ways of introducing similar projects on the territory of Ukraine are offered. The problems connected with the «green» investment are highlighted and their possible solutions are given. In particular, it is determined that the development of cost-effective and environmentally-friendly production, investment activation, and the introduction of innovations are perspective. 
Keywords:«green» investment, Financial mechanisms, Financial instruments, State regulation, «green» projects, Sustainable development
File of the article:EV20191_166-180.pdf
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