European Union policy on financing eco-innovations in the transition to a green economy

Abstract

The purpose of the article is to identify the systemic interconnections of the main elements of the policy of financing green transformation and eco-innovation in the European Union EU, highlighting the main challenges and further strategic directions of development. EU policy in the field of green economy and innovation has been studied. Identified core economic systems for «green» finance. The policy of stimulation of eco-innovative activity in the EU and primary financing programs are considered. A scheme of the system of sustainable finance and eco-innovation in the EU has been elaborated, and the direct relations between the elements of this system have been clarified. The methodological basis of the article are the fundamental provisions of economic science, the theory of green finance and innovative development. Dialectical, systematic, logical and historical methods of scientific knowledge were used. The conclusions demonstrate the urgent need for a green transformation and the importance of developing a policy for financing eco-innovation activities in the EU.