Government Support for Green Investment (Renewable Energy)

• Main Author: E. A. Borkova
• Format: Article
• Language: English
• Published: North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration 2020-04-01
• Series: Управленческое консультирование
• Subjects: sustainable development; renewable energy; green finance; green economy; green investment; financing of green investments; public policy
• Online Access: https://www.acjournal.ru/jour/article/view/1364

The article discusses the trends in the use of renewable energy sources and the possibility of financing them according to market and budget schemes. Today, the issue of green financing is very relevant and is being discussed all over the world at the highest level, since the main advantage of such energy is its inexhaustibility and environmental cleanliness. The use of renewable energy does not change the energy balance of the planet, which is very important in the framework of the concept of sustainable development and for the transition of national economies to a reduced level of dependence on hydrocarbons. These qualities served as the reason for the rapid development of renewable energy abroad and in Russia. From a practical point of view, the transition to sustainable development means a fundamental change in business and management processes in order to stop the destruction of key ecosystems, the depletion of non-renewable resources and the widening gap between the rich and the poor. Sustainable development has ceased to be an exclusively academic concept and is becoming mainstream in the world of business and investment, which requires the development of management tools, both market and administrative-state type.