Green investments as a driving force to the spreading of energy efficient projects: EU experience for Ukraine

Abstract

The paper deals with the analysis of the main features of green investments like as an incentive instrument to enlarging the energy efficient projects. The author analysed the main approaches to define green investment. The results of analyses showed that no existence of the universal approach to defining the term of the green investment. Under this paper, the green investment is defined as a capital in the green economy (involving low carbon economy), climate resilient initiatives, clean technologies, renewable energy, or natural capital that can be considered environmentally friendly with the purpose to develop the ecosystems and green growth. The results of the analysis of the EU experience proved that green investment is a main financial recourse to boost the energy efficient projects. Thus, the implementing and spreading of energy efficient project is one of the Sustainable Development Goals 2030. Noticed, that most EU countries have already achieved that goas on energy efficient projects. In this case, Ukraine should try to attract the additional financial recourses for that purpose. Thus, in the paper, the author proposed to attract additional financing through the developing of the green investment market. The results of the analysis showed that the most restriction factor which limits the developing of green investment market is lack of understanding among the investors of the main advantages of green investment. In this case, the author allocated the main social, economic and ecological advantages of green investment for investors.