The Role of Environmental Innovation in Green Modernization of Industrial Enterprises

Zhanna A. Mingaleva () and Yurii V. Starkov ()
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Zhanna A. Mingaleva: Perm National Research Polytechnic University, Perm 614990, Russian Federation
Yurii V. Starkov: Perm National Research Polytechnic University, Perm 614990, Russian Federation

Finansovyj žhurnal — Financial Journal, 2021, issue 5, 79-92

Abstract: Environmental innovations, green financing, and green investments are currently aimed at implementing such key areas of “greening” the economy and society as reducing emissions of greenhouse gases and various pollutants into the environment. However, the process of green modernization of industrial enterprises is much more diverse and does not only involve environmental measures in relation to direct environmental pollution. The present article reveals the features of the behavior of Russian enterprises and organizations in the field of environmental innovation introduction. The ranking of environmental innovations by directions and goals of implementation is carried out, and their dynamics are analyzed. Particular attention is paid to such a direction of “greening” the economy and production underestimated to date as the activity of replacing raw and other materials with safe or less hazardous ones. The paper demonstrates the importance and significance of this direction of environmental innovation from the point of view of the formation of a green value chain. The main research methods are statistical, structural and logical, and comparative analysis as well as methods of graphical data presentation. The result of the study is the conclusion that it is necessary to increase the attention given by individual enterprises, the business community, investment organizations, the financial sector, government bodies and other subjects of society to such a direction of green modernization of industrial enterprises as the introduction of innovation in the use of environmentally friendly raw and other materials. First and foremost, the above implies an expansion of production and use of composite materials, which have huge application potential in various sectors of the economy, thus generally corresponding to the country’s technological development program.

Keywords: green investment; green industrial modernization; composite materials; green value chain (search for similar items in EconPapers)
JEL-codes: Q52 Q54 Q56 Q58 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:210506:p:79-92

DOI: 10.31107/2075-1990-2021-5-79-92

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