Green Finance as a Tool for Supporting Environmental Initiatives

Nikolay G. Kuznetsov, Natalia G. Vovchenko, Valeria D. Dmitrieva, Oksana S. Chernobay and Petr A. Mikhalin

Chapter 2 in Sustainable Development of the Green Entrepreneurial Economy, 2025, pp 15-22 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The research aims to assess the state of green finance as a new tool for supporting environmental initiatives. The main focus is placed on empirical observations and expert assessments. Green financing tools represent a certain novelty and promise for research because their use is currently very limited, and their effectiveness is unclear. This research is a review of expert analytics on the implementation of green finance in the activities of financial institutions. Green (sustainable) financial instruments (bonds, loans, mortgages, insurance, and others) are broadly understood as funds used to finance environmental projects. However, they achieve the greatest impact in different fields (as environmental taxes do). The authors conclude that prospects for developing green financial products and services lie in the context of providing assistance to developing countries. Financial instruments should link sources of financing in developed countries and objects of financing in developing countries because these countries cannot solve this problem independently.

Keywords: Green Entrepreneurial Economy; Sustainable Development; Sustainable Development Goals (SDGs); Economy of Transformations; Green Economy; Energy Efficiency; Renewable Energy Sources; Waste Disposal; Carbon Footprint; Green Technologies; Eco-City; Green Finance; Green Banking; ESG Strategies; Digitalization (search for similar items in EconPapers)
JEL-codes: O13 Q01 Q4 (search for similar items in EconPapers)
Date: 2025
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