Финансовая эффективность зеленых проектов

Abstract

The paradigm of sustainable development requires a large amount of equity and debt financing of relevant projects to achieve climate goals. However, the required financing is not provided in full due to increased uncertainty in the economy, as well as uncertainty among investors and creditors about the financial success of green projects. It is assumed that this situation is largely determined by the difficulty for project initiators to correctly assess all aspects of their implementation, because many of them are influenced by behavioral economics factors that usually fall out of the field of view of scientists and practitioners when performing traditional financial analysis. The subject of the study is to ensure the financial efficiency of projects aimed at reducing/eliminating the negative impact on the environment. The purpose of the work is to identify the factors influencing the financial viability of green projects. The relationship between sustainable development and the financial results of the company's activities has been revealed. The importance of the environmental factor affecting not only the cost of production, but also the preferences of customers in choosing a product is determined. The obstacles of a systemic nature preventing the involvement of banks in lending to green projects are substantiated. The financial aspects of solving the problem of ensuring the financial efficiency of green projects are investigated. It has been established that green goods open up new promising market segments for manufacturers and expand the circle of buyers, thereby reducing the cost of production of green goods and, in turn, increasing the effective demand for them. As a result of the work, it was concluded that in order to obtain an objective picture of a green project, it is necessary to take into account the cost of carbon emissions or exceeding the established quotas for them in the cost of production, as well as the fact that an increasing number of consumers are willing to buy environmentally friendly goods and pay more for them than their conventional counterparts.