Green Finance as an Increase Factor Sustainability of Economic Development

The article examines financial instruments for the development of a green economy and analyzes the conditions and principles of their use. Approaches to implementing the principles of a green economy are described. A classification of green financing instruments is proposed, taking into account the functions they perform. Based on an analysis of the literature, the authors developed a classification of direct and indirect financing instruments, taking into account the features and possibilities of their use for enterprises. Taking into account international experience and economic characteristics, it has been determined that when generating financial resources for the development of the green sector of the economy, priority attention should be paid to direct financial instruments. This article presents an analysis of the formation and development of modern approaches to financing the green economy, revealing the main elements of the modern model of financing green growth and influencing factors. Studying the dynamics of “green” investments in the context of individual countries of the world and the experience of international cooperation in the field of sustainable development, the authors of the article summarize the results achieved by countries in terms of financing the transition of the economy to a new model of environmentally sustainable development. Assumptions are put forward to explain the features of the modern model of financing “green” economic growth.