Akademik Məlumat İdarəetmə Sistemi
1st International Conference on Smart Environment and Green Technologies, ICSEGT 2024, Baku, Azerbaijan, 12 - 13 April 2024, vol.1251 LNNS, pp.523-531, (Full Text)
The article analyzes the content of the “green economy” and the possibilities of using “green innovation” to ensure economic growth. The central role of “green” innovation in achieving sustainable development goals on the path to a “green” future is substantiated. Existing approaches to the interpretation of the concept of “green” innovation are analyzed, on the basis of which their main characteristics are highlighted—eco-efficiency and resource efficiency. Analysis of various interpretations of the concept of “green” innovation made it possible to identify aspects that summarize their fundamental properties. The factors influencing green innovation are considered. Based on the analysis of the role of “green” innovations, the following conclusion was made: today, the leaders of “green” innovations use the advantages of the first move and receive certain benefits from this by setting higher prices for their eco-products and, at the same time, improving their corporate image and expanding sales markets. Companies that recognize today that green innovation is part of the process of sustainable innovation development are positioning themselves for the future with green innovation, focusing on developing business models based on environmental sustainability in order to minimize the negative impacts of their activities, including thus incorporating environmental issues into their strategies. This article provides an analysis of increasing economic efficiency, solving the problem of sustainable development based on the widespread application of the principles of the “green economy”, attracting public and private investment in “green projects”. Issues related to increasing the energy efficiency of the economy and rational consumption of natural resources are listed as important tasks of the transition to a “green” economy. It is explained that the set targets can be achieved through the modernization of technologies and the development of financial mechanisms.