Гуменюк, Я.М. and Іващенко, Оксана Андріївна (2024) Multilateral development banks and alternative actors in the implementation of international investment projects in the field of green transition and combating climate change Інвестиції: практика та досвід (15). pp. 97-104. ISSN 2306-6814
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Abstract
The role of multilateral development banks, as well as member banks of the International Development Financing Club in financing green international investment projects, was noted; the predominance of financing of international projects on mitigating the consequences of climate change and adaptation to climate change, in the field of biodiversity and promotion of low-carbon technologies was noted. The system of economic instruments of state environmental regulation must, among other things, take into account the specifics of interaction between market and state business regulators and mechanisms for rational environmental management. The introduction of market-oriented tools for greening business activities is directly related to economic stimulation of sustainable development. The concept of sustainable development is aimed at complying with the conditions for preventing pollution and degradation of the natural environment, is based on the principles of environmentally oriented economic activity, and is based on the environmental validity of business decisions that ensure the priorities of public interests over private ones. Economic instruments of environmental regulation form a system for managing the interaction between society and nature, i.e. a set of measures (including established requirements of environmental legislation) aimed at ensuring the rational use and reproduction of natural resources, preserving and restoring a favorable state of the environment, observing and protecting environmental legal rights and individuals. The preventive form of economic measures can be implemented only if these measures are of a motivational nature, representing a system of economic instruments that stimulate the prevention of environmental pollution through the use of financial indicators and economic levers. It is established that all investment operations of the World Bank are carried out in accordance with the Environmental and Social Framework of the World Bank, as well as the Environmental and Social Performance Standard developed by the International Finance Corporation and the Multilateral Investment Guarantee Agency. The role of the Kunming-Montreal Global Framework Program in the field of biodiversity as a result of the 2022 UN Conference on Biodiversity has been determined. Its regulatory capacity to determine the areas of economic activity that can apply for green financing has been determined. The importance of international investment projects aimed at improving the efficiency of energy and resource use, and which affect activities that allow reducing the use of energy or materials in the supply chain by increasing the energy efficiency or efficiency of the use of resources in the existing supply chain, through the transition to a less carbon supply chain, is characterized or by implementing a closed-loop economy system. The role of the Glasgow Financial Alliance in achieving net zero emissions has been noted, with members announcing some form of net zero target for their financial activities and the composition of their investment portfolios, however, due to the fact that less than half of them have set clear targets for themselves, accompanied by the establishment of specific tasks and deadlines for their implementation, the implementation of green and circular transitions is not unfolding according to a dynamic scenario. It is obvious that in order to transfer the declared "net zero" goals to real investment practice, financial institutions must bring internal incentive systems in line with clearly defined goals and interact with politicians, customers and shareholders on the planning and coordination of funding for three transitions at once - green, energy and circular.
Item Type: | Article |
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Uncontrolled Keywords: | sustainable development; circular economy; low-carbon economy; green transition; climate change; development bank; climate fund; development financing; green finance; sustainable finance; climate investment; mixed financing; sustainable investment; Central Bank; international investment projects; management. |
Subjects: | Статті у базах даних > Index Copernicus Статті у періодичних виданнях > Фахові (входять до переліку фахових, затверджений МОН) |
Divisions: | Факультет економіки та управління > Кафедра міжнародної економіки |
Depositing User: | Доцент Оксана Андріївна Іващенко |
Date Deposited: | 07 Aug 2024 13:52 |
Last Modified: | 07 Aug 2024 13:52 |
URI: | https://elibrary.kubg.edu.ua/id/eprint/49536 |
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