GREEN FINANCE AS AN INSTRUMENT OF GUARANTEING NATURE-TECHNOGENIC AND ENVIRONMENTAL SAFETY IN THE CONTEXT OF TERRITORIES’ SUSTAINABLE DEVELOPMENT
Abstract
The article considers the essence of the green finance concept and determines its applicability to the tasks of ensuring the environmental and technological safety of territories on the principles of sustainable development. The main mechanisms for generating sources of green investments, such as green loans, green bonds, fiscal policy, territorial funds, green cooperatives, are identified. The main advantages and incentives for the introduction of green finance in the practice of organizations are substantiated. The emphasis is made on the affinity of social, infrastructural and green projects in the framework of achieving the sustainable development goals. The role of green finance in establishing a balance between social needs, economic growth and demand for social production is described. The economic sectors are classified, the financing of which can be carried out with the help of green finance with the greatest efficiency. A list of real economy sectors is formed, which, according to the results of the study, have the greatest negative impact on the environmental safety of territorial associations. The main factor that is an obstacle to the widespread adoption of green finance in economic practice is the difficulty in identifying and systemic nature of economic and non-economic risks that are the basis for making a decision on financing a green project. A mechanism has been proposed to reduce the risks of financing green projects by developing standard programs for sustainable development of territories, which are formed by a pool of projects that have similar sources of financing for green investments. A list and sequence of stages of designing sources of financing green investments has been developed taking into account environmental and technological safety in the context of sustainable development of territories. The main design stages are: pre-identification of negative environmental impacts, the establishment of systemic relationships between factors, the grouping of green projects, the identification of stakeholders, the formation of green funding sources, the establishment of mechanisms for harmonizing the constraints of green financing.
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