GREEN FINANCE IN THE CONTEXT OF THE CONCEPT OF SUSTAINABLE DEVELOPMENT: BIBLIOMETRIC AND TREND ANALYSIS
DOI:
https://doi.org/10.31379/sed.1.1.2024.7Keywords:
sustainable development, green economy, sustainable financing, green finance, climate change, financial systemAbstract
The change in the modern paradigm of ecological thinking leads to the need to transform financial systems in the context of the concepts of green economy and balanced sustainable development. With this in mind, the purpose of this study is to identify trends and key areas of research in the field of green finance in the context of the concept of sustainable development based on trend and bibliometric analysis using the VOSviewer software.
The article analyses and defines the current problems of the development of financial systems in the countries of the world in the conditions of a green economy using the Climate Change Efficiency Index, the Environmental Efficiency Index, and the Global Sustainable Development Index.
A bibliometric and trend analysis of the relationship between the terms "green finance" and "sustainable development" was performed. It has been proven that for a more effective implementation of models and mechanisms for the development of the green finance market in the medium term, it is advisable to: form national strategies for sustainable financing of priority areas of economic activity to achieve green goals and objectives; justify and create a system of indicators of green transformation of financial systems for monitoring and evaluation, identify shortcomings and corrective measures; adapt the implementation mechanisms, which are based on the goals and objectives defined in the "green growth" strategies ("green" taxes, pollution duties, subsidizing "green" transport and eco-technologies, cancelling fossil fuel subsidies, "green" purchases, "green" bonds etc.); support the implementation of eco-innovations and "green" technologies, as well as the creation of ecosystem start-ups; to develop concepts of green financing for the sustainable development of national economies; develop and adopt Roadmaps for the attraction of green investments as a tool for stimulating sustainable financing of the development of financial systems.
JEL Classification: Q56, G18, O16, O44, Q01.
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