MECHANISMS OF INVESTMENT SUPPORT FOR SCALING ECO-INNOVATIONS FOR SUSTAINABLE DEVELOPMENT

Shkarupa O.V.

Sumy State University,
Sumy, Ukraine

Ignatchenko A.S.

Sumy State University,
Sumy, Ukraine

Vlasenko K.A.

Sumy State University,
Sumy, Ukraine


Pages: 71-78


Original language: Ukrainian

DOI: 10.21272/1817-9215.2021.2-9

Summary:

The article examines the issues of financial support for eco-innovations in Ukraine. The problems of scaling up projects for the implementation of eco-innovations in the context of sustainable development of Ukraine are theoretically substantiated. The problems and directions of improvement of innovative activity in Ukraine in the sphere of implementation of "green" projects have been identified. Based on the analysis of statistical data on the development of environmentally innovative activities, the trends of financial support for eco-innovation at industrial enterprises have been identified. Based on the study of the statistical reporting of Ukraine, it was determined that the growth of eco-innovations does not occur, and the financing of eco-innovative activities occurs mainly at the expense of enterprises' own funds. It was found that investment support for the implementation of eco-innovations does not have an established trend and is based on government support, and the system for encouraging private investment in green projects is not supported at the legislative level. This affects the efficiency of eco-innovation scaling processes in the country, provided that the financing of green projects is an important component of the innovative development of the business and public sectors. According to the results of the research, the mechanisms of regulation of eco-investments under the condition of optimal combination of normative-legal acts with economic means and methods of management are analyzed and offered. With effective government encouragement and provision of optimal conditions, the situation with investment support for eco-innovation can have a positive trend in the future. It has been established that when forming a mechanism for investment support for the implementation and scaling of eco-innovations, it is necessary to develop a system of standards, in particular in the context of the use of financial instruments for attracting "green" investments and investments in eco-innovations. It was revealed that the number of problems limiting investment support and the development of "green" financing includes both problems associated with the semantics of the terms "green" and eco-innovative, and problems characteristic of the development of financing of innovative projects in general (underdeveloped capital markets , discrepancy in terms of financing, etc.).

Keywords:
eco-innovation, investment, steel development, green project.

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