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Investments in Renewable Energy: Global Trends and Modern Tools
Savchenko M. V., Romanets T. P.

Savchenko, Maryna V., and Romanets, Tetiana P. (2024) “Investments in Renewable Energy: Global Trends and Modern Tools.” Business Inform 3:23–30.
https://doi.org/10.32983/2222-4459-2024-3-23-30

Section: International Economic Relations

UDC 339.13:620.97

Abstract:
Renewable energy has become one of the most attractive sectors for investment in the modern world. The increasing focus on environmental pollution and climate change, coupled with rapid technological advancements in this field, make it highly promising for businesses and investors. In this article, we will examine the major global trends in renewable energy investment and the modern tools that facilitate the development of this sector. One of the key trends is the growth in investment volumes in renewable energy. According to the International Renewable Energy Agency (IRENA), investments in renewable energy surpassed $300 billion in 2023, marking a record high. This increase in investment is driven by both government support programs and private investors who see high potential profitability in this sector. Another important trend is the expansion of investment geography in renewable energy. While previously the main markets were in Europe and North America, there is now active development in markets across Asia, Africa, and Latin America. This is due to both the overall growth in energy demand in these regions and political and economic strategies aimed at reducing dependence on coal and gas fuels. Today, there are several modern tools that facilitate investment in renewable energy. One of them is green bonds. These are special bonds issued by companies or governments, the proceeds of which are used exclusively for the development of renewable energy projects. Green bonds are becoming increasingly popular among investors who seek not only financial returns but also to contribute to sustainable development. Another tool is socially responsible investment funds, which specialize in investing in enterprises and projects related to sustainable development, including renewable energy. These funds are guided not only by financial criteria but also by environmental and social criteria, making them attractive to investors who aim to have a positive impact on society and the environment.

Keywords: investments, renewable energy, global trends, modern tools, sustainable development, energy needs, geographical distribution, environmental impact, technological progress, green investments.

Fig.: 6. Bibl.: 13.

Savchenko Maryna V. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of International Economic Relations, Vasyl’ Stus Donetsk National University (21 600-richchia Str., Vinnytsia, 21021, Ukraine)
Email: [email protected]
Romanets Tetiana P. – Student, Department of International Economic Relations, Vasyl’ Stus Donetsk National University (21 600-richchia Str., Vinnytsia, 21021, Ukraine)
Email: [email protected]

List of references in article

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Lagana, S. “Renewable energy trends and developments powering a cleaner future“. IBM. March 08, 2024. https://www.ibm.com/blog/renewable-energy-trends/
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Yevtukhova, S. M. “Stratehichni investytsiini instrumenty upravlinnia finansovymy aktyvamy pidpryiemstva“ [Strategic Investment Instruments for Managing the Financial Assets of an Enterprise]. Intelekt XXI, no. 3 (2021): 62-69. DOI: https://doi.org/10.32782/2415-8801/2021-3.12
Nesterenko, S. S. “Konkurentnyi rozvytok natsionalnykh ekonomik krain ta rehionalnykh struktur na zasadakh priamoho investuvannia tsilei staloho rozvytku“ [Competitive Development of National Economies of Countries and Regional Structures on the Principle of Direct Investment of Sustainable Development Goals]. Intelekt XXI, no. 3 (2021): 69-76. DOI: https://doi.org/10.32782/2415-8801/2021-3.13
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“World Energy Transitions Outlook 2023: 1.5°C“. IRENA. June 2023. https://www.irena.org/Publications/2023/Jun/World-Energy-Transitions-Outlook-2023
Prib, K. A. “Investuvannia v rozvytok vidnovliuvanykh dzherel enerhii“ [Investing in the Development of Renewable Energy Sources]. Naukovi zapysky NaUKMA. Seriia «Ekonomichni nauky», vol. 6, no. 1 (2021): 111-116. DOI: https://doi.org/10.18523/2519-4739.2021.6.1.111-116
“The World Bank Green Bond Process Implementation Guidelines“. https://thedocs.worldbank.org/en/doc/217301525116707964-0340022018/original/GreenBondImplementationGuidelines.pdf
“International Capital Market Association. Green Bond Principles: Voluntary Process Guidelines for Issuing Green Bonds. 2021“. https://www.icmagroup.org/sustainable-finance/the-principles-guidelines-and-handbooks/green-bond-principles-gbp/#:~:text=The%20GBP%2C%20updated%20as%20of,issuance%20of%20a%20Green%20Bond
“World Investment report 2023 : Investing in Sustainable Energy for All“. UNCTAD. 2023. https://unctad.org/system/files/official-document/wir2023_en.pdf
Schabek, T. “The financial performance of sustainable power producers in emerging markets“. Renewable Energy, vol. 160 (2021): 1408-1419. DOI: https://doi.org/10.1016/j.renene.2020.06.067

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