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The Role of Environmental Innovation in Green Modernization of Industrial Enterprises

Author

Listed:
  • Zhanna A. Mingaleva

    (Perm National Research Polytechnic University, Perm 614990, Russian Federation)

  • Yurii V. Starkov

    (Perm National Research Polytechnic University, Perm 614990, Russian Federation)

Abstract

Environmental innovations, green financing, and green investments are currently aimed at implementing such key areas of “greening” the economy and society as reducing emissions of greenhouse gases and various pollutants into the environment. However, the process of green modernization of industrial enterprises is much more diverse and does not only involve environmental measures in relation to direct environmental pollution. The present article reveals the features of the behavior of Russian enterprises and organizations in the field of environmental innovation introduction. The ranking of environmental innovations by directions and goals of implementation is carried out, and their dynamics are analyzed. Particular attention is paid to such a direction of “greening” the economy and production underestimated to date as the activity of replacing raw and other materials with safe or less hazardous ones. The paper demonstrates the importance and significance of this direction of environmental innovation from the point of view of the formation of a green value chain. The main research methods are statistical, structural and logical, and comparative analysis as well as methods of graphical data presentation. The result of the study is the conclusion that it is necessary to increase the attention given by individual enterprises, the business community, investment organizations, the financial sector, government bodies and other subjects of society to such a direction of green modernization of industrial enterprises as the introduction of innovation in the use of environmentally friendly raw and other materials. First and foremost, the above implies an expansion of production and use of composite materials, which have huge application potential in various sectors of the economy, thus generally corresponding to the country’s technological development program.

Suggested Citation

  • Zhanna A. Mingaleva & Yurii V. Starkov, 2021. "The Role of Environmental Innovation in Green Modernization of Industrial Enterprises," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 79-92, October.
    • Handle: RePEc:fru:finjrn:210506:p:79-92
    DOI: 10.31107/2075-1990-2021-5-79-92
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    References listed on IDEAS

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    Cited by:

    1. Alexey Mikhaylov, 2022. "Sustainable Development and Renewable Energy: A New View to a Global Problem," Energies, MDPI, vol. 15(4), pages 1-4, February.
    2. Svetlana I. Chuzhmarova & Andrei I. Chuzhmarov, 2023. "Tax Incentives for Investments in Green Technologies: Experience of Selected Countries," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 74-89, April.

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    More about this item

    Keywords

    green investment; green industrial modernization; composite materials; green value chain;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects

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