Abstract
Nowadays most developed and some developing countries are moving to the path of “green” economy and strive to develop in the direction of sustainable development. An important aspect is the development of eco-innovations that contribute to reducing the negative impact on the environment through the creation of fundamentally new products, processes and systems with minimal use of natural resources and virtually zero environmental pollution. Such clean technologies are possible in the field of renewable energy, water resources management, “green” construction, waste reduction, etc. The vast accumulated international experience of countries that develop eco-innovations serves as a positive experience for the development of this direction in Kazakhstan. Energy efficiency and renewable energy resources should be considered as national priorities of the country, be integrated into energy and socio-economic policies, and become the basis for the development of state programs for sustainable development. Kazakhstan strives to achieve its goals for sustainable development, including improving the environmental situation in the country. This paper focuses on financial issues in ecoinnovations, it represents analyses of current trends in this sphere in Kazakhstan.
Highlights
Kazakhstan ratified the UN framework Convention on climate change in 1995, the Kyoto Protocol in 2009, and the Paris agreement in 2016
Considering the sources of financing of environmentally friendly innovations in addition to the enterprises' own funds, several groups should be distinguished: state funds allocated for the implementation of green economy development programs; funds attracted in the domestic financial market of Kazakhstan; funds of foreign investors and funds, international organizations
Weak participation of Kazakhstan in the formation and development of “green” technologies and eco-innovations increases the risks of maintaining the catch-up model of development, reducing the competitiveness of the national economy, reducing opportunities to attract “green” investments and participate in international programs for financing projects for the development of the “green” economy
Summary
Kazakhstan ratified the UN framework Convention on climate change in 1995, the Kyoto Protocol in 2009, and the Paris agreement in 2016. Within the framework of national strategic documents (“Concept for the transition to a “green“ economy”, the Law of the Republic of Kazakhstan “on support for the use of renewable energy”), measures are being taken to develop renewable energy sources, waste processing, create conditions for “green” investments, introduce innovative approaches to rational consumption, etc. It is predicted that by 2050, the transformation of the “green” economy will further increase GDP by 3% The development and implementation of innovations require significant investment This makes it necessary to find effective mechanisms for financing “green” innovations that determine the dynamics and depth of the processes of greening the economy. For modern Kazakhstan, “green” innovations represent a huge potential for obtaining positive economic and environmental effects The following research goal is set – to analyze the main sources of financing of eco-innovations and their trends in Kazakhstan, as well as to identify the degree of participation of financial and credit institutions in the development of “green” technologies
Sign-in/Register to view highlights & summary 
Published Version (
Free)
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Energy Economics and Policy
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
