Green Financial Instruments of Cleaner Production Technologies

Abstract

Despite the rather long period of solving environmental issues and research, the problems of attracting green financial instruments as sources of financing and stimulating the development and implementation of clean technologies have not been sufficiently studied. The aim of the study is to: conduct a theoretical analysis of the available data; identify trends and study green financial instruments and propose their classification; formulate hypotheses for the development of green financial instruments; and apply empirical methods of analysis to identify the dynamics of the development of environmental taxation in the EU budget. A theoretical analysis of available sources identified existing green financial instruments, which were classified as: (a) aimed at improving existing technologies for the production of goods and services through the development of greening and eco-modernization projects that contribute to the reduction of greenhouse gas emissions; (b) aimed at the development and implementation of innovative projects that change the technology for the production of goods and services, completely eliminating the emission of greenhouse gases. The hypotheses put forward for the study of the management of green financial instruments through the use of financial management mechanisms are formulated through theoretical analysis based on the environmental taxation of production technologies.