Marketing instruments to promote green investment: declining greenwashing

Abstract

The paper deals with the analysis of preconditions to promote green investment. The authors allocated the main features and principals of green investment. The results of the analysis of EU experience showed that green investment is one of the ways to attract additional finance recourses for supporting the country's green growth. In this case, the authors allocated the main barriers which limit the green investment spreading in Ukraine: lack of the legislation bases; non-existing the universal approach to define and classify green investment and assets; the existing stereotype that green investment is a non-profitable investment; greenwashing concept which used by companies and etc. Besides, one of the ways to overcome the issues and boost green investment market is using the effective marketing instruments with the purpose to promote green investment among main stakeholders. In the paper, the authors allocated the main marketing instruments to whispered green investment. The results of the analysis showed that one of the factors which restrict the efficiency of promoting green investment is greenwashing. Thus, greenwashing defined as a gap between two behaviours: the lowest level of green performance and short-term positive talking about green thinking. In this case, with the purpose to develop Ukrainian green brand greenwashing should be declined through the controlling from the government authorities. In the paper, the authors proposed to implement a regulation which controls the publishing of nonfinancial reports in open access on the obligatory bases. The authors highlighted, that well-developed green investment market and effective marketing communications of promoting them have a positive impact on the country's brand through the forming country's green brand. As a positive consequence, it could provoke the improving of Ukrainian investment climate which attracts the additional foreign green investment.