FOREIGN EXPERIENCE IN INVESTING IN GREEN INNOVATIONS AND START-UPS

Abstract

The article is devoted to a comprehensive study of foreign experience in investing in green innovations and environmental start-ups and determining the prospects for its adaptation in Ukraine, taking into account the strategic course towards decarbonisation of the economy and integration into the European green space. Particular attention is paid to revealing the content and specifics of key financial instruments that are actively used in leading countries around the world to support environmentally oriented technologies. In particular, the mechanisms for forming and managing ESG funds, which combine environmental, social and management criteria in the selection of projects, are considered; the principles of issuing and trading green bonds and shares aimed at financing renewable energy, energy-efficient technologies and environmental protection measures are investigated; the practice of impact investing, aimed at achieving measurable social and environmental effects along with financial returns, is analysed; the role of venture capital in financing start-ups that implement breakthrough green technologies is revealed; characterised the functioning of climate investment platforms as instruments for coordinating multilateral projects and accumulating international donor funds; examined models of public-private partnerships that ensure synergy between institutional resources and private capital in large-scale environmental initiatives. Based on an analysis of statistical indicators of EU countries' spending on environmental protection, renewable energy development and energy efficiency improvement, groups of countries with high, medium and low levels of financial support for green innovations are identified. It has been substantiated that the effectiveness of foreign investment models is determined by a combination of government incentives, developed capital market institutions, a clear regulatory framework and a stable macroeconomic environment. It has been proven that for Ukraine, in the context of economic reconstruction and structural modernisation, the key tasks are to develop the infrastructure of green financial markets, introduce transparent criteria for assessing the sustainability of projects, increase the institutional capacity of regulators, and create favourable conditions for mobilising long-term capital. The results obtained can serve as an analytical and methodological basis for developing tools to attract long-term capital to environmental projects and accelerate the environmental transformation of Ukraine's economy.