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Journal number 3 ∘ Vakhtang Burduli

Summary. This article discusses the imperatives (motivating reasons) that make it necessary to move to development according to the principles of the “green” economy, discusses options for defining the concept of a "green" economy and the direction of its development by sectors. The interrelation of the “green” economy with the innovation economy was also discussed. The public and private financial instruments for coordinating the green and innovative economies are systematized.

Key words: “green” economy; innovative economy; definition of a “green” economy; directions of the “green” economy; “Green” innovations, “green” investments, financial instruments of coordination. 


At present, the world community is actively promoting the issue of building a “green” economy, which should gradually replace the existing brown economy for many decades, causing serious damage to the human environment and inducing great threats to the normal existence of modern and especially future generations. In this regard, in this paper, the motivations (imperatives) that necessitated a gradual transition to development according to the principles of a "green" economy are considered, the directions of its development are discussed. Another area of ​​economic restructuring, which is now moving forward in developed countries, is the concept of building an innovative economy. Since the concept of a “green” economy places great emphasis on the need for R&D oriented towards green development and the implementation of green innovations, it is natural that to a certain extent these two types of economies partially overlap and the development of the green economics requires the use of apparatus and tools of an innovative economy. Therefore, in this work, the question of the relationship of the “green” economy with the innovative economy was also discussed. And in the last paragraph, public and private financial instruments of the “green” economy are discussed. 

Imperatives (incentives) of the need for a transition to a “green” economy

Sustainable development of the global economy as a whole, and in individual countries is increasingly interrupted, in particular, due to the influence of factors of irrational nature management. Although the currently prevailing economic system (brown economy) has yielded certain results in raising the living standards of people as a whole, the negative consequences of the functioning of this system associated with irrational nature management are significant. These are purely environmental problems (climate change, desertification, loss of biodiversity), as well as problems associated with resource consumption - depletion of natural capital (non-renewable and some types of renewable resources, soil erosion), lack of fresh water, food, energy, environmental pollution by waste production and consumption and its degradation, etc. “The causes of global financial, energy and environmental crises are rooted in decades of intensive and irrational extraction and use of IAOD natural resources along with poor management. As a result, a huge, but mostly hidden environmental debt to the planet and future generations is growing steadily” [Понятие ..., 2017]. That is, a threat is being created for the present and especially for future generations.

As the understanding of what threats this model of development poses is growing, more and more attention has been paid to the problems of its reorganization. In this regard, in the last period, the concept of the transition of mankind to a "green" economy has been put forward.

In the framework of the concept of a “green” economy, it is believed that the economy is a dependent component of the natural environment within which it exists and is a part of it. This concept is based on three axioms: it is impossible to expand the sphere of influence indefinitely in a limited space; it is impossible to demand satisfaction of infinitely growing needs in conditions of limited resources; everything on the surface of the earth is interconnected. From these axioms it follows that constant economic growth is impossible - only constant economic development is possible (see, for example: [Смагулова Ж., Муханова А., Мусаева Г., 2015]).

Taking into account these three axioms, we will consider the most characteristic serious reasons that can periodically disrupt the course of sustainable development if effective measures are not taken in the field of applying the “green” economy tools and introducing innovative green technologies. These reasons are just the motivations (imperatives) that predetermine the need for a transition to a “green” economy.

1. Climate change. As you know, as a result of an ever-increasing release of carbon dioxide into the atmosphere during the combustion of products of the processing of all types of fuel containing carbon (oil, gas, coal, oil shale) and an increase in the concentration of this greenhouse gas, global warming is occurring, causing climate change from all well-known negative consequences. This necessitates a gradual transition from generation of electricity from hydrocarbon fuel to a gradual increase in production from alternative renewable sources - hydroelectric power stations, wind farms, solar power plants, and from non-renewable ones - nuclear power plants, as well as the need for a gradual transition, where possible, to electric vehicles. This need (requirement) is one of the main imperatives of a “green” economy. However, the process of such a transition (partial, completely impossible) will take many years. It is associated with large investment costs, the need to conduct many R&D (not all of which will be effective) and introduce innovative production and consumer technologies.

2. One of the most serious problems facing humanity is soil degradation. Soil is an exhaustible resource, i.e. in case of loss and degradation it cannot be restored for a period corresponding to the life of one generation. Being one of the main components of land resources, agricultural development and environmental sustainability, soils are the basis for the production of food, feed, fuel and fiber, as well as for the provision of many essential ecosystem services. The natural territory of fertile soils is limited and is under increasing pressure due to intensification and competition for use for the purpose of growing crops, forestry, grazing (as grazing land) and urbanization, as well as to satisfy the needs of a growing population of the Earth for food and energy and in the extraction of raw materials [Почвы ..., 2015].

The causes of soil degradation are irrational methods of land use and management and extreme climatic phenomena caused by various socio-economic and managerial factors. Currently, 33 percent of land is degraded to moderate to severe due to erosion, salinization, compaction, acidification and chemical pollution of soils. The rate of soil degradation is now such that it jeopardizes the ability of future generations to meet their most urgent needs. It is estimated that current demographic trends and the projected increase in the world's population (which should exceed 9 billion people by 2050) will lead to a 60 percent increase in demand for food, feed and fiber by 2050. Opportunities for expanding agricultural land are few, with the exception of parts of Africa and South America. Most of the additional land funds for agriculture are unsuitable, and the environmental, social and economic costs necessary to create the possibility of their exploitation will be very high. Therefore, the rational use of agricultural soils around the world and sustainable production have become absolutely necessary conditions for reversing trends in soil degradation and ensuring global food security in the present and in the future [Почвы ..., 2015], which is one of the most important imperatives that encourage development “  of “green” economy .

More efficient use of water resources, reduced use of pesticides and improved soil health can increase crop yields by an average of 79 percent [Почвы ..., 2015].

3. Depletion of non-renewable natural resources (ie, natural capital). Of course, all types of non-renewable natural resources, for example, deposits of copper ore, phosphates, appatites, etc., are gradually depleted. But the main thing is energy sources, which we will dwell on in the field of their use.

Coal continues to be the most important and most promising source of energy on Earth. Today, coal energy occupies 40% in the world, 70-80% in China and India, about 40% in the USA, and about 50% in Germany. According to the International Energy Agency (IEA), in the next 20-25 years, coal will remain the second most important fuel and energy resource after oil. The IEA notes that under current consumption policies, coal demand could grow by 70% by 2035, given the expansion of the range of coal technologies. At the current rate of spending, coal reserves will last at least 270 years [Воскресенская Ю., 2015]. If we take into account that coal seams were formed due to the energy of the sun received over hundreds of millions of years, then destroying them in 200-300 years is an impermissible luxury. It should be borne in mind that readily available coal reserves will run out much earlier, and when coal is mined from a depth of 1-2 km, it is necessary to spend such an amount of energy that will block the amount of energy received during its burning. That is, it is pointless to get coal from such depths.

The most serious problem is the complete exhaustion of the world's proven oil reserves in about 50 years if the production and consumption of its refined products are up to date (counting from 2015, see, for example, [Пик нефти]), which seems blatant irresponsibility in relation to future generations.

Currently, oil is the main global energy resource, in addition, its components are used for the production of plastics and many other products. In general, oil refined products are used in the production of more than 6,000 thousand items of goods. Starting from gasoline and fuel oil, ending with aspirin and lipstick - everything is made from oil. Of its components, 25 million tons of protein is produced annually, which in the food industry replaces animal matter [Сколько осталось нефти ..., 2013]. and, of course, oil products (gasoline, kerosene, diesel fuel) are still the main source of power for land, water and air transport, and for the latter it is practically uncontested, and fuel oil is widely used for generating electricity at thermal power plants.

According to the latest data from “proven world reserves” of oil (the amount of oil that can be produced at the current technological level, while making a profit) is enough for 53 years [Сколько осталось нефти ..., 2013]. A slightly earlier annual report of the 2012 World Energy Council (WEC) states that the world's proven oil reserves will last 56 years, gas for 55 years, and coal for no less than a hundred years. At the same time, the share of alternative energy sources in the production of all world electricity does not exceed 5 percent [Запасов нефти в мире ..., 2013].

However, shale oil and tar sands are not taken into account in the above estimates. There are a lot of the latter in Canada, Venezuela and on the Russian coast of the Arctic Ocean [Запасов нефти в мире ..., 2013].  Shale oil is already produced in several countries, including the United States and Russia. Unfortunately, the oil shale production coefficient is 10-15%. If you bring this coefficient to 30-40%, then the reserves will be enough until the end of the century and slightly more [На сколько лет хватит ..., 2013]. But shale oil production causes tremendous damage to the surface soil layer, and tar sands occur at great depths and although their deposits are huge, oil production from them in the foreseeable future will satisfy only a few percent of world oil needs [Битуминозные (нефтяные) ...].

As for natural gas, there are almost no contradictions in various sources regarding the timing of the exhaustion of its proven reserves. Its explored (or rather “proven”) reserves at the current level of consumption will be exhausted in about 55 years [Мировые запасы ..., 2015; На сколько лет ..., 2013; и др.] (although there are later somewhat higher, but not yet confirmed estimates).

From the data on these non-renewable energy resources, two most important imperatives of the “green” economy emerge: the need for the fastest possible development of effective alternative methods for generating heat and electricity and their gradual introduction into the economy in order to bring the share of alternative renewable energy sources to the maximum possible values; the need for R&D and other measures to rationalize energy consumption (i.e., activities aimed at more economical energy consumption).

4. Energy intensity of GDP. The energy intensity of the GDP of developed countries is 2-3 times lower than in post-Soviet countries. For example, in Russia - 49, Canada - 28, Finland 26, the USA - 22, Sweden - 21, Japan - 16, Germany - 16. The list also includes cold countries, which does not prevent them from much exceed indicators, for example, of Russia [Energy intensity ...]. In order to reduce the energy intensity of GDP in developed countries, a policy of energy conservation is constantly pursued, which is all the more necessary to carry out in post-Soviet countries. Energy conservation is the implementation of organizational, legal, technical, technological, economic and other measures aimed at reducing the amount of energy resources used while maintaining the corresponding beneficial effect from their use (including the volume of products produced, work performed, services rendered) [Энергоемкость ...]. When pursuing an energy conservation policy in all areas, it is necessary to focus on improving energy efficiency. Energy efficiency is a characteristic that reflects the ratio of the beneficial effect of the use of energy resources to the costs of energy resources produced in order to obtain such an effect, as applied to products, technological process, legal entity, individual entrepreneur. This refers to the amount of energy spent in the manufacture of the product. All energy is taken into account for all types of resources (electricity, gas, thermal energy, etc.) expended, including on ensuring the life of people in everyday life [Энергоемкость ...].

It seems that the policy of reducing the energy intensity of GDP, energy conservation and improving energy efficiency should be one of the most important imperatives of the “green” economy .

5. Depletion of renewable natural resources. Of course, one cannot talk about the depletion of renewable resources such as hydropower, and wind energy, which are the products of solar energy and therefore inexhaustible (at least in the next 500 million years). However, we can talk about the process of "depletion" of such an important renewable resource as forest (and, of course, wood). In many countries, in certain periods, massive uncontrolled deforestation occurs (which lead to undesirable consequences, for example, large-scale desertification), more often, without further work to restore them. In some post-Soviet countries, such a period of uncontrolled deforestation was observed after the collapse of the Soviet Union. So, for example, during the period of power of E. A. Shevardnadze and M. Saakashvili, “businessmen” freely cut down large tracts of forest, and primary timber (logs) were exported without processing in the country. In Georgia, up to this time, forests occupied up to 40% of the territory, and now there are significantly fewer of them. Moreover, active restoration work is still not conducted. Considering the importance of timber for many types of economic activity, as well as the importance of forests for the environment in general and, in particular, for maintaining the balance of oxygen in the atmosphere, it seems that one of the most important imperatives of the “green” economy  is monitoring forest conditions and taking measures to their breeding.

6. A serious problem is the accumulation of industrial and consumer waste, landfills and dumps, storage facilities (for example, waste from the nuclear energy industry), other types of land surface cluttering, the dissolution of chemical wastes in the oceans that adversely affect biodiversity, in particular, an increase in ocean acidity reduces the amount of plankton that, along with forests, generating oxygen maintains its balance in the atmosphere, etc. The introduction of utilization and processing systems and their involvement in the re-circulation is necessery, which is also one of the most important imperatives of the "green" economy.

7. Reorganization of the modern economic system. At the forefront of the modern (“brown”) liberal economic system is the principle of profit maximization. As a result of this, overproduction of goods takes place all over the world, the struggle for sales markets escalates, and resources are spent in excess, including non-renewable energy sources. For the purpose of maximizing production and profit, the population of many developed countries is formed with the help of the media, advertisements, and also in the process of training, the cult of the need for excessive consumption (for example, the frequent purchase and change of clothes, personal transport, spending excessive amounts of gasoline, etc.). ) If the current population growth rates are maintained in the near future, it will no longer be possible to ensure the necessary adequate growth in food products. At the current rate of burning of oil products, their shortage will soon begin to be felt, which in the future will lead to frequent and serious violations of the sustainability of development.

All this raises the question of the need to reform the economic system (which is what the supporters of the "green" economy suggest) so that the focus on economic development is not the desire to maximize total profit, but the improvement of the living conditions of the population in all countries, as economical as possible expenditure of natural resources, primarily non-renewable energy sources.

So, the most important imperative of the “green” economy in the social sphere should be the formation of a auther and creator economy, as opposed to the modern formation of a zombie economy to maximize profit as an entrepreneur, and to exorbitantly obtain life benefits as a consumer, while maximizing the cost of non-renewable resources and maximizing production energy from renewable sources.

Currently, in order to solve the problems of the imperatives of the previous and this paragraphs, many scientists raise the question of creating a multi-turn (or circular, cyclic, circular - all this is one and the same) economy, which should become an integral part of the “green” economy  . In many developed countries, it has already been partially created.

Of course, this direction of the reorganization of the economic system will entail the need to reduce the length of the working day so as not to increase unemployment, as well as to abandon the liberal version of the market economy and strengthen state conducting in working with business. In particular, the successful forms of soft state conducting were demonstrated in 1960-70 by South Korean leader Park Jung-hee, who in a short time made South Korea one of the industrialized countries [Корейское ..., 2008].

To reinforce this most important imperative of the “green” economy, we give excerpts from the work of V. Klaptsov, in which its essence is defined very clearly and in conjunction with the axiom of the “green” economy as the impossibility of continuous economic growth: “To implement the concept of sustainable development, it is necessary to change the current paradigm development based on unlimited economic growth. Satisfying growing consumption is achieved in the cheapest way to maximize profits. And profits are then reinvested in meeting new and growing needs. Moreover, this development is mainly due to the reduction of natural resources” [Клапцов В., 2012].

Some experts are convinced that current politicians lack the political will to explain to fellow citizens the need to abandon growing consumption for the sake of future generations. Mankind can recover from the habit of living beyond its means only as a result of the onset of crises, when inevitably one has to go to restrictions. As an example, they cite the energy crisis of the mid-70s of the last century, which served as an impetus for the development of energy-saving technologies in developed countries [Клапцов В., 2012].

“The 21st century should be decisive, and the situation will either fundamentally change and become reversible, or will result in negative global consequences. At the present stage, humanity, although slowly, comes to the realization that all the growing social and natural anomalies are a consequence of our wrong behavior, as well as an understanding of responsibility for the future of the planet. The mentality of mankind has a great inertness, in order to change centuries-old traditions and psychological stereotypes of a person a long period of time must pass. Success in achieving the goals of sustainable development depends, first of all, on mass awareness of the need to move to a new development paradigm” [Клапцов В., 2012]. 

The “green” economy is the most important vector of the new paradigm of sustainable development

The term “green” economy was first coined in 1989 in a groundbreaking report for the UK government by a group of leading environmental economists (David Pearce, Edward Barbier and Enil Markandia) entitled “Blueprint for a “green” economy” [Деревяго И., 2017, с. 25; Понятие ..., 2017]. In 1991 and 1994, these same authors issued sequels to the first report entitled “Plan 2: Greening the World Economy” and “Plan 3: Measuring the Effectiveness of Sustainable Development” [Понятие ..., 2017]. Although the essence of the theme of the first report was that the economy can and should help environmental policy, the second and third reports expanded the problem area to global problems: climate change, depletion of the ozone layer, deforestation, and loss of resources in developing countries [Понятие ..., 2017].

In 2008, the term was revived in the context of discussions on the many global crises and responses to them at UNEP (United Nations Environment Program - UNEP, together with one of the authors of the Plan for a “green” economy , Edward Barbier prepared a report entitled The New Global Green Course, which was released in April 2009. This report suggested a combination of policies that stimulate economic recovery and at the same time enhance the sustainability of the global economy. [Понятие ..., 2017].

The new global course towards a “green” economy  as the only way to further development was announced at the 40th World Economic Forum 2010, held in Davos under the slogan "Improve the planet: rethink, re-plan, rebuild the world." The concept of a “green” economy is designed to provide a more harmonious agreement of the components of the economy, society and nature within the framework of the sustainable development paradigm. At the moment, it is becoming a global course of innovative, anti-crisis formation in many countries and regions of the world [Что такое ..., 2017; Лыжин Д., 2011]. A number of high-level organizations deal with this issue - the aforementioned UNEP (United Nations Environment Program) [Навстречу ..., 2011], OECD (Organization for Economic Co-operation and Development) [Курс на ..., 2011] and others, it is discussed at high-level international conferences - the most important conference on sustainable development and the “green” economy  Rio + 20 was held in 2012 [Будушее ..., 2012], one of the last was held in Batumi [Восьмая ..., 2016].

A generally accepted definition of a “green” economy does not yet exist. There are a number of definitions from different organizations. Despite some differences, all of them to one degree or another suggest that the “green” economy should be aimed at the harmonious achievement of economic, environmental and social goals.

In 2009, UNEP made its first attempt to define the term “green” economy: “it is an economic activity related to the production, distribution and consumption of goods and services that leads to improved well-being of people in the long term, while not exposing future generations significant environmental risks and reducing the scarcity of environmental resources” [Понятие ..., 2017]. In 2011, UNEP gave another definition: “a “green” economy is a resource-efficient economy based on low-carbon development, which leads to better human well-being and social justice, while significantly reducing environmental risks and preventing the loss of biodiversity” [Навстречу ..., 2017]. UNCTAD (United Nations Conference for Trading and Development) in 2011 gave the following definition: “a “green” economy  is an economy that seeks long-term social benefits in short-term activities and leads to better people’s well-being and reduce inequality without exposing future generations to significant environmental risks and environmental deficits” [Понятие ..., 2017].

Although these three definitions, to one degree or another, indicate the main goals of the “green” economy noted above, they do not indicate the need to improve the coordination system of economic development in accordance with the principles of the “green” economy. The European Bank for Development and Reconstruction gave the following definition: “A “green” economy  is an economy in which public and private investment is carried out in order to minimize the environmental impact of economic activity and where market problems are addressed through proven policy measures and legal  frameworks aimed at systematically taking into account the state of ecosystems, managing associated risks and stimulating innovation” [Понятие ..., 2017]. In addition this definition notes the necessity of inovations stimulation which should become the base of “green” development but the main problem - the problem of resource efficiency is omitted.

The Organization for Economic Co-operation and Development (OECD) worked out and introduced the concept of "green growth", defining it as the maximum provision for economic growth and development, without affecting the quantity and quality of natural assets and using the growth potential that arises in the transition to a “green” economy. That is, “green growth” is the growth of GDP, which is subject to "green" conditions and emphasizes the "green" sectors as new growth drivers. To do this, green growth must catalyze investment and innovation that will underpin sustainable growth and create new economic opportunities. [Что такое ...; Родионова И., Липина С., 2015]. Such a formulation of the question is in certain contradiction with the axioms of a “green” economy. Although at the present stage, GDP growth should take place, but in general, according to axioms and on the basis of common sense, it is clear that endless GDP growth is impossible and it should give way to effective "green" development. “Even “green growth” can be a temporary task, as the world is already working on a transition to a model of an economy without growth (degrowth). Economic growth must give way to welfare, profit to public good” [Брагин А., 2018]. At the same time, an increase in the volume of certain material goods may take place, but an increase in aggregate GDP cannot. Let us illustrate this with an example. Thus, according to the scenario of a number of analysts from public and governmental organizations, due to a significant increase in energy efficiency as a return on green investments, the global energy demand is projected to decrease by 40% by 2050 relative to the inertial development scenario [Порфирьев Б., 2013]. That is, the share of energy consumption in GDP will decrease, but this does not mean that the share of other goods in GDP will not increase, but in general, the aggregate GDP may not increase.

Understanding the “green” economy requires a certain concretization and structuring both from the point of view of determining the sectors (types of activities) in which the corresponding “green” transformations should take place, and from the point of view of determining the “green” measures that should be carried out or in the context of specific types of activities, or generally in the economic system as a whole.

In numerous publications, in one way or another, the following key sectors (or activities) are identified that are basic for the implementation of "green" transformations: transport; energy / mining; industry; land use (including protected areas, agriculture and forestry); construction; housing and utilities; fish farms and fisheries; tourism; pollution prevention, disposal and recycling; water management.

But it is difficult to consider measures for a “green” economy within the aggregate of industries grouped by some criterion within the framework of the traditional economic model. The emergence of “green” activities in itself is the result of changes in traditional industries or in a whole group of industries. Therefore, various sources usually systematize the key areas of development of the “green” economy, the components of measures for which may relate to several traditional sectors. Moreover, when determining and structuring directions, specific features of a particular country are usually taken into account. We give a system of directions for the development of a “green” economy in Belarus and Kazakhstan. In these two republics, the only ones from the post-Soviet countries so far, national action plans for the development of a “green” economy have been drawn up and are being implemented.

Given the socio-economic conditions, prospects, appropriateness, international obligations, the priority areas for the development of the “green” economy  in the Republic of Belarus are the following: the development of electric transport (infrastructure) and urban mobility, the implementation of the concept of smart cities; development of construction of energy-efficient residential buildings and increase of energy efficiency of the housing stock; reducing the energy intensity of gross domestic product, increasing energy efficiency, including through the introduction of energy-efficient technologies and materials; increasing the potential for the use of renewable energy sources; creation of conditions for the production of organic products; sustainable consumption and production; ecotourism development [Национальный ..., 2016, с. 7]. And in Kazakhstan, the following seven key areas of development of the “green” economy are being implemented: introduction of renewable energy sources; energy efficiency in housing and communal services; organic farming in agriculture; improvement of the waste management system; improving the water management system; development of “clean” transport; conservation and effective ecosystem management [Смагулова Ж., Муханова А., Мусаева Г., 2015].

According to the OECD classification, “green” technologies cover the following areas: general environmental management (waste management, combating water, air pollution, land restoration, etc.); energy production from renewable sources (solar energy, biofuel, etc.), mitigating the effects of climate change, reducing harmful emissions into the atmosphere, increasing fuel efficiency, as well as energy efficiency in buildings and lighting [Курс на ..., 2011].

For the successful establishment of the concept of a “green” economy, significant investments must be made in effective innovation. That is, all directions of the development of the “green” economy require the introduction of innovations both in the form of introducing completely new technologies and improving innovations, for example, with the aim of increasing the energy efficiency of industrial equipment. At the same time, the task of greening the economy requires the implementation of measures aimed at combining traditional instruments of command and administrative regulation and control with measures to introduce innovative tools, as well as market-based instruments for reorienting financing to green investments. 

Innovation factor in a “green” economy

The implementation of innovations plays a decisive role in the development of a “green” economy. “Today, 40% of global innovations are in the “green” economy, and 50% of them in energy saving and energy efficiency, which are a key factor in the “green” economy,” noted in [Что такое ..., 2017]. However, in the currently developing “innovative economy” in advanced countries, the introduction of innovations is understood not only as the introduction of newly created private innovations, but also the introduction of new technology complexes (that is, the organization of new industries as a whole), and the restoration on a new improved technological base of actual, but temporarily lost production (mainly in post-Soviet countries) and much more. All this happens on the basis of using the apparatus and economic mechanisms of national innovation systems (R&D, technology transfer, commercialization of innovations, public and private financing of innovation, etc. [Abesadze R., Burduli V., 2018: fourth chapter; Абесадзе Р., Бурдули В., 2017]). In this aspect, the “green” economy can be considered an integral part of the innovative economy, which is gradually taking more and more place in it.

Based on the above classifications of the directions of development of the “green” economy (classifications of the OECD, Belarus and Kazakhstan), we will compile a generalized classification and give examples of innovations in some of the positions. We can distinguish, in our opinion, the following key generalized areas: 1. General ecosystem management (waste management, combating water, air pollution, restoration and rational use of land, restoration and planting of forests); 2. Introduction of renewable energy sources; 3. Reducing the energy intensity of GDP and increasing energy efficiency (construction of buildings and utilities, industry, transport, agriculture); 4. The development of electric transport; 5. Organic farming in agriculture; 6. The development of ecological tourism.

Waste management. As noted above, in developed countries, a multi-turn (circular) economy is being formed, the main task of which is to involve production and consumption waste in the secondary circulation. So, in Finland, which according to the EPI economic efficiency index for 2016 is the greenest country in the world, only 11% of waste goes to landfill, the rest is divided into the following categories: “sorted waste”, “recycling”, and “energy generation”[Опыт Финляндии ..., 2017]. Naturally, the implementation of modern innovative technologies is required for these subsystems, which happens in developed countries.

Introduction of renewable energy sources. Renewable energy sources include hydroelectric power stations, solar and wind power plants, biofuel installations, geothermal and some other types of power plants. Consider only solar and wind power plants, which appeared relatively recently and therefore are innovative technologies.

Solar power plants are of several types. The most common solar thermal power plants are tower-type (the largest, with a capacity of 392 MW, was commissioned on February 13, 2014 in San Bernardino, California) and using a parabolic-cylindrical concentrator (the largest of the completed ones (2014) has a capacity of 280 MW, located in Barstow, CA), as well as photovoltaic power plants (the largest with a peak capacity of 550 MW, California, USA). However, of the latter, the most powerful station in the world is considered to be located in Imperial County (California, USA), with a peak power of 206 MW, as it uses the technology of orientation of modules by the sun during the day [Solar ...]. Quite powerful photovoltaics appeared not so long ago, they are based on innovative technologies that are constantly being improved. These stations are networked and autonomous, in addition, they produce electricity only in the daytime, some of them have equipment (for example, Tesla storage batteries [Как работает ..., 2019]) for accumulating the generated electricity, in particular for subsequent transmission to the central network.

A wind farm is several wind turbines assembled in one or several places and united in a single network. Types of wind farms - land, coastal, offshore. Ground-based wind farms are installed on heights and hills, there are also mountain ones. The construction of a wind farm requires the establishment of a wind balance at the site of the proposed installation place, design and other innovative research. Recently, wind farms are becoming more and more widespread.

Reducing the energy intensity of GDP and increasing energy efficiency. In all countries, the vast majority of energy consumption is accounted for by three sectors: industry, utilities and transport. For example, in the Republic of Belarus in the housing sector “about 38 percent of the total final consumption of energy resources of the country is used, while industry and transport account for 29 and 20 percent, respectively[Национальный ..., 2016, с. 9]. And “industrial production of the Republic of Kazakhstan accounts for more than 50% of energy consumption, and 30% and 20%, respectively, is consumed by the housing and communal and transport sectors” [Зеленая экономика: реалии ..., 2018, p. 22]. At the same time, these republics adopted plans to improve energy efficiency in the coming years. Energy efficiency policies have been pursued in the EU for a long time, and now it is planned to increase energy efficiency by 27 percent by 2030 [Национальный ..., 2016, p. 5].

 In the housing and utilities sector, energy efficiency is achieved primarily through the use of innovative energy-efficient technologies in the construction of houses. For example, the development of energy-efficient construction in the Republic of Belarus provides for the gradual increase in the annual volume of commissioned multi-storey and individual residential buildings, the share of houses with high energy efficiency classes based on the use of new technical, design and organizational solutions, development and implementation of energy-saving engineering systems of residential buildings, including systems using renewable sources of thermal energy and secondary energy resources, control system of automatic mikro climate and power consumption of residential buildings [Национальный ..., 2016, с. 9]. It is necessary to switch to innovative energy-saving diode lighting, both indoors and in street lighting, which is currently happening all over the world.

Worldwide, in industry, energy conservation is achieved through the introduction of innovative energy-efficient technologies, as well as the implementation of improving innovations in the direction of increasing energy efficiency on existing technologies.

In transport, energy conservation is achieved by stimulating the acquisition of innovative fuel-efficient vehicles by the population, updating the fleet of aircraft and railway locomotives, and switching to innovative electric transport.

The development of electric vehicles. The European Commission proposed to prohibit the use of gasoline-powered cars in cities by 2050. Some European countries have introduced this ban since 2030. However, according to the estimates of the international energy agency and the audit company "KPMG", the share of sales of electric vehicles in the world market of motor vehicles by 2025 will not exceed 15 percent and will amount to approximately 20 million units [Национальный ..., 2016, с. 5, 6].

The fact is that the introduction of innovative technologies for the production of electric vehicles is not developing at a high enough pace. Although R&D is being carried out to create more capacious batteries for electric vehicles, no tangible progress in this direction has yet been observed. Although modern lithium-ion batteries have a relatively high capacity and in a number of countries their mass production is being established. From the post-Soviet countries, certain shifts in the production of electric vehicles are observed, for example, in Belarus and Kazakhstan.

In Belarus, ё-Crossback EV electric vehicles were designed and their small batch assembled. There are two manufacturers of charging stations. There are no manufacturers of batteries in Belarus. The production of lithium-ion batteries requires a high investment (at least $ 150 million) and is possible only with the appearance of a large interested investor. A number of organizations of the Ministry of Industry of Belarus system have the potential to manufacture parts, assemblies, components and special equipment for electric vehicles [Национальный ..., 2016, p. 8].

Automobile manufacturers in Kazakhstan have begun production of electric vehicles in limited numbers. At the end of 2014, the Ust-Kamenogorsk Asia Auto Plant launched the first KIA Soul EV. In July 2016, the SaryarkaAvtoProm plant in Kostanay produced an experimental batch of electric cars of the Chinese brand JAC. Finally, in July 2017, Asia Auto introduced the LADA Vesta EV at EXPO-2017. Local production of electric cars can reduce the cost of electric cars for the population, but there are factors limiting the potential of the electric car market in Kazakhstan. At the same time, the Ministry of Energy of Kazakhstan is actively working on the development of infrastructure for electronic vehicles, including charging stations [Зеленая экономика: реалии ..., 2018, p. 26, 27].

Another direction of the introduction of electric vehicles, in addition to the expansion of the use of electric vehicles, which is planned in some countries, is a return to the use of trams and trolleybuses in cities, which can be interpreted as the introduction of innovations based on old knowledge. But this is difficult to achieve, since the functioning of this transport causes difficulties in regulating the movement of traffic flows. 

On financing and stimulating the development of a “green” economy

The task of “greening” the “economy requires the implementation of measures aimed at combining traditional instruments of command and administrative regulation and control with measures to introduce innovative tools, including collective social actions to change production and consumption patterns, as well as market-based instruments for reorienting financing to“ green ” investments, development of environmentally friendly technologies and increasing the efficiency of resource use ” [Восьмая ..., 2016, p. 4].

In the “green” economy, among the projects there are many such projects that must be implemented over a long period, are very costly and the payback period of which is very long (for example, land restoration). In addition, it is difficult to force a business to implement certain “green” economy measures (for example, to install treatment facilities) without providing certain incentives. Therefore, the strengthening of state conducting in the field of the fiscal mechanism (for example, the introduction of a tax on environmental pollution), public procurement, and most importantly - in the field of state financing of green events is inevitable. In addition, it is necessary to develop mechanisms to stimulate private business to carry out particularly costly “green” investments. However, most of the green investments (for example, measures to reduce the energy intensity of production) are beneficial for business and do not require special government incentives to support their implementation.

First of all, it is necessary to strengthen the channels of state financing. For this, it is necessary to strengthen the share of deductions from tax revenues allocated to the corresponding state funds and other organizations of financial support for entrepreneurship. Public funds for green investments are most often channeled through long-standing state organizations (or funds) supporting the business as a whole (and not just “green” other entities), however, special organizations (or funds) are created that focus only on financial support “green" projects. For example, in Finland, Finfund (the Finnish Industrial Cooperation Fund, founded in 1980) finances both industrial development in general and Green Projects, along with other projects and green projects, Tekes, a NEFCO ( The Nordic Environment Finance Corporation, established by the governments of the Nordic countries in 1990, headquartered in Helsinki) provides directly “results-based environmental finance by providing funding for projects that reduce  environmentally harmful wastes " [Опыт Финляндии ..., 2017].

However, it is undoubted that private-sector investments in green financing should take precedence over public investment. And the main role here should belong, as in most cases, to investing in other projects not related to the “green” economy, financing through banks as part of FIGs (see: [Бурдули В., 2016; Abesadze R., Burduli V., 2018: fifth chapter]). However, for complex green projects, the use of government stimulants can be envisaged here. In addition to tax preferences, it can be state guarantees for loans allocated to green investments, it is also possible that the government will cover interest on loans in some cases, etc.

In general, in various countries, public and private mechanisms for making green investments, fiscal and financial incentive mechanisms are created in different ways, depending on specific conditions, and currently many of them are in the process of formation. 


Currently, the world community is actively promoting the issue of building a “green” economy, the sectors of which should be integrated into the sectors of the current “brown” economy in order to smooth out its negative impact on the environment and sustainable development prospects. To understand its essence, in the first place, imperatives (motivating reasons) are formulated and substantiated that make it necessary to develop a “green” economy , including: due to climate change and the depletion of non-renewable resources, the need for a gradual transition (to the extent possible) from generating electricity from hydrocarbon fuels to be produced from alternative renewable energy sources; reversing soil degradation trends and ensuring global food security in the present and future; in connection with the depletion of non-renewable energy resources, to carry out activities aimed at their more economic use; to carry out measures to reduce the energy intensity of GDP, energy conservation and energy efficiency; in connection with the accumulation of industrial waste, landfills, dumps, etc., introduce waste disposal and recycling systems, involving them in recycling, etc.

In an enlarged aspect, the development directions of the "green" economy cover the following positions: general ecosystem management (waste management, combating water, air pollution, restoration and rational use of land, restoration and planting of forests); introduction of renewable energy sources; reduction of energy intensity of GDP and increase of energy efficiency (construction of buildings and housing and communal services, industry, transport, agriculture); development of electric vehicles; organic farming in agriculture; development of ecological tourism.

In the development of a “green” economy, the introduction of appropriate innovative technologies and the implementation of improving innovations in the context of all directions of its development play a decisive role. In this aspect, a “green” economy can be considered an integral part of an innovative economy, because these economies require similar, and often generalized coordination mechanisms and an innovative infrastructure.

Given this fact, the paper discusses ways of innovative development in the context of some of the above areas of development of the “green” economy and issues of financing and stimulating the development of the “green” economy. 


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