The Concept of Environmental Marketing in Companies’ Activities as a Base for the Development of Green Economy in Russia

Olesya V. Ivanchenko, Olga N. Mirgorodskaya, Tatyana F. Romanova and Tatyana A. Vysotskaya

Chapter 19 in Climate-Smart Innovation:Social Entrepreneurship and Sustainable Development in the Environmental Economy, 2023, pp 301-317 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The chapter focuses on implementing the concept of environmental marketing in the framework of the development of a green economy in Russia to achieve sustainable development goals. In the current context, the idea of an ecological lifestyle is becoming not only a fashionable trend but also a behavioral norm; it is reflected by economic indicators of eco-product consumption. Consumers pay more attention to the climatic characteristics of products. The demand for low-carbon products has not yet formed in most industries, but end-consumer needs are increasing in line with the general rise in awareness of environmental issues. The authors consider the problem of greenwashing on the way of development of responsible environmental marketing. A considerable number of misleading advertising and unconfirmed promises make it impossible for the consumer to distinguish between the illusion of environmental friendliness and responsible environmental policies of companies. Responsible business management and an environmental marketing agenda can now significantly impact a company’s reputation, its market capitalization, and the consumer behavior of customers. The positive effect of environmentally responsible behavior through the implementation of green marketing programs is the attraction of customers focused on eco-products and a new generation of investors who support the responsible investment trend. Promoting eco-innovations based on companies’ active marketing activities is a prerequisite for developing a green economy in Russia. The results of the activities of environmentally responsible companies show the reality and relevance of the introduction of ecomarketing. The goal of implementing a green economy is to balance the interests of the economy and the interests of society in the long term. In turn, environmental marketing can implement this concept based on the offer of goods and services that consider the needs of consumers and the need to reduce the negative impact on the environment.

Keywords: Climate-smart Innovation; Social Entrepreneurship; Sustainable Development; Environmental Economy; Green Economy; Environmental Marketing; Green Entrepreneurship Practices; COVID-19; Regional Economy; Natural Territory (search for similar items in EconPapers)
JEL-codes: L26 L31 Q01 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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