Implementation of the best available technologies as a factor of establishment of “green” economy: institutional aspect

Abstract

  The goal of this research lies in assessment of the institutional factors of implementing the model of “green” economy in the context of introduction of best available technologies as the object of eco-investing, development of recommendations aimed at improving the effectiveness of such mechanisms from the perspectiveof ensuring “green” priorities. The article employs the general scientific methods (scientific abstraction, unity of historical and logical, analysis, synthesis) and special methods (integrative that implies simultaneous study of institutional, social and economic factors). The object of this research is the institutional factors of eco-investing and implementation of the best available technologies. The subject is the effectiveness of the institutional mechanism of "eco-investing in the context of implementation of the priorities of the model of “green” economy. The article relies on the conceptual documents of international organizations in the area of sustainable development and “green” economy, scientific works of the leading national and foreign scholars, statistical data and reports of the government structures, as well as corresponding normative legal acts. The scientific novelty and results are as follows: the author clarifies the correlation between the concepts of “sustainable development”, “green economy”, “green growth”, and “eco-investing”; outlines the institutional roles of the actors of "eco-investing; determines the problematic areas, such as priority vectors of eco-investing; examines the normative legal mechanism of development of the “green” economy model in the Russian Federation. The conclusion is made that the key “rules of the game” are established on the macroeconomic level. The article also reveals the “failures” in the course of implementation of the national project “Ecology” and the federal project “Introduction of the Best Available Technologies”. Recommendations are formulated for the elimination of such gaps and realization of the priorities of “green” economy in the investment sphere.