INSTITUTIONAL STRUCTURE OF GREEN FINANCE IN THE DEVELOPMENT OF GLOBAL GREEN ECONOMY
Abstract
The purpose of the article is to identify the substantive essence of green finance and the structure of its institutions that ensure the implementation of green projects. The article is devoted to the topical issue of creating mechanisms and institutional basis for global "green" funding. Without the dynamization of this type of financing, it is impossible to create conditions for the green economic development of countries and the solution of global goals of sustainable development. The author emphasizes that implementation of progressive programs of economic policy of sustainable development and formation of green economy involves attracting large amounts of funding. Given the high risk of green business models and projects, as well as the ambitious task set by the world community to double the annual amount of green funding by 2030, it becomes clear the objective impossibility of its implementation solely through public capital and traditional financing methods. Therefore, the issue of broad involvement in green financing of private business, institutional investors and citizens on the basis of their purchase of special financial instruments is relevant. The article substantiates the functional and qualification dimensions of green finance and their content. The estimation of the global private investment of the green economy by sectors and in dynamics by years have been carried out. The concrete-functional dimension of global green financing has been characterized. The comparative analysis of institutional investors in the global green investment market has been performed. The peculiarities of the activities of such institutional investors in the structure of green finance as yield companies, asset managers, pension funds, insurance companies and sovereign wealth funds have been identified. The practical value of the study lies in the systematization of the features of green finance institutions, the development of which in Ukraine would contribute to its accelerated sustainable development.
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