Public green finance: mechanisms and instruments of state support for ecological transformation

   The article is devoted to the assessment of various mechanisms and instruments of state financial stimulation of environmental agenda implementation both in foreign countries and in the Russian Federation. The paper provides a comparative analysis of international practices and domestic experience in applying financial incentives to support environmental initiatives. Special attention is paid to such instruments as grants, subsidies, tax incentives, green bonds, and other forms of state support. On the basis of the analysis, strengths and weaknesses of the applied methods are identified, and potential areas for their improvement are outlined. Proposals for adapting the best international practices to Russian conditions have been developed, which will make it possible to increase the efficiency of state financial incentives for environmental activities. In addition, recommendations are presented on the introduction of innovative financial instruments to accelerate the transition to a more environmentally sustainable economy. The results of the study may be useful for government agencies responsible for the development and implementation of environmental policy as well as for businesses interested in participating in environmental projects. The conclusion emphasises the importance of integrating best global practices into the Russian ecofinancing system to achieve sustainable development goals and reduce negative environmental impacts.

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