Sustainable financing of innovative technologies in Georgia: challenges and prospects

Main Article Content

Merab Vanishvili

Abstract

The scientific article, basis on the newest literal sources and actual materials studies the important question regarding the theory of fiscal policy as sustainable financing of innovative technologies in Georgia. There are examined global tendencies in direction of sustainable financing. In connection to this, sustainable financing is presented as unity of two important parts: (1) leading finances to such projects which would support sustainable and inclusive growth; (2) improvement of financial stability in the process of decision making by taking into consideration environmental, social and managerial factors. There is investigated course of support of sustainable financing in Georgia, besides, there is documented that National Bank of Georgia supports strengthening of the role of financial sector in sustainable development of the country and develops green, social and sustainable financing frame for this purpose. There are analyzed actions planned by National Bank of Georgia for development of sustainable development- guideline of sustainable development including four basic directions: (1) improving of consciousness and qualification; (2) flows of sustainable financing; (3) ESG risk management; (4) transparency and market discipline. Besides, there is made a conclusion on the necessity of creation of working group of sustainable development by the National Bankfor successful realization of sustainable development guideline and provision of timelyinclusion of interested parties in this process.

Article Details


How to Cite
Vanishvili, M. (2022). Sustainable financing of innovative technologies in Georgia: challenges and prospects. Scientific Collection «InterConf», (126), 51–61. Retrieved from https://archive.interconf.center/index.php/conference-proceeding/article/view/1348

References

UN Agenda for Sustainable Development (2015). https://sustainabledevelopment. un.org

Paris Agreement, (2015). https://unfccc.int/process/the-paris-agreement/what-is-the-paris-agreement.

Report of the World Commission on Environment and Development: Our Common Future (2015). http://www.un-documents.net/our-common-future.pdf

Final Report (2018). https://ec.europa.eu/info/publications/180131-sustainable-finance-report_en

Stenek et al. (2010). Climate Risk and Financial Institutions.

United Nations Environment Programme. (2018). http://unepinquiry.org/wp-content/uploads/2018/04/Greening_the_ Rules_of_the_ Game.pdf

On the Role of Central Banks in Enhancing Green Finance. (2017). http: //unepinquiry.org/wp-content/uploads/2017/02/On_the_Role_of_ Central_Banks_ in_Enhancing_Green_Finance.pdf

Green Bond Principles. (2017). https://www.icmagroup.org/green-social-and-sustainability-bonds/green-bond-principles-gbp/

EU Commission Action Plan. (2018). https://ec.europa.eu/info/ publications/180308-action-plan-sustainable-growth_en

Merab, V., Irakli, K., & Nino, V. (2020). Coronavirus Pandemic and Prospects of the Georgian Economy. 556–568. https://sci-conf.com.ua/i-mezhdunarodnaya-nauchno-prakticheskaya-konferentsiya_ achievements-and-prospects-of-modern-scientific-research-6-8-dekab rya-2020-goda_buenos-ajres-argentina-arhiv

Nanuli, K., Merab, V., & Lali, O. (2022). CORPORATE RESPONSIBILITY IN GEORGIA: CHALLENGES AND NEW OPPORTUNITIES. European Science Review, 3–4, 41–45.

Ramaz, O., & Merab, V. (2020). Competitive Strategy in Business. 127–133. https://sci-conf.com.ua/iv-mezhdunarodnaya-nauchno-praktiches kaya-konferentsiya-the-world-of-science-and-innovation-11-13-noyabrya-2020-goda-london-velikobritaniya-arhiv/

Shanava, Z. (2021). INTEGRATION POLICY OF GEORGIA IN THE EUROPEAN UNION INTO TRANSPORT NETWORK DEVELOPMENT. InterConf, 13–18.

Shanava, Z. (2022). BLACK SEA REGION AND ECONOMIC SECURITY WITHIN THE FRAME OF DEVELOPING NATIONAL DEFENSE CAPABILITIES. InterConf, 888–892.

Shanava, Z., & Vanishvili, M. (2021a). Analysis and Evaluation of Financial Education of the Population in Georgia. International Journal of Innovative Technologies in Economy, 4 (36), 1–12. https://doi.org/10.31435/rsglobal_ ijite/30122021/7740

Shanava, Z., & Vanishvili, M. (2021b). Financial Education of the Nation: Challenges and Perspectives. International Journal of Social Science and Economic Research, 6(12), 4646–4672. https://doi.org/DOI: 10.46609/IJSSER.2021. v06i12.012

Shanava, Z., & Vanishvili, M. (2022). LEGAL FRAMEWORK OF GENDER BUDGETING IN GEORGIA. Scientific Collection «InterConf», 120, 110–120.

Vanishvili, M., & Katsadze, I. (2022). BANK FINANCING OF GREEN ECONOMY: REVIEW OF MODERN RESEARCH. InterConf, 120–143.

Vanishvili, M., Katsadze, I., & Vanishvili, N. (2021). Public finance reform and state transfer policy in Georgia. Збірник Наукових Праць ΛΌГOΣ, 26–30. https://doi.org/DOI 10.36074/logos-28.05.2021.v1.05

Vanishvili, M., & Lemonjava, L. (2016). Public Financial Management System in Modern Georgia. Globalization & Business.

Vanishvili, M. M., & Chelidze, M. E. (2017). A SEGMENTATION OF GEORGIAN POPULATION ACCORDING TO FINANCIAL RESOURCES AND A STYLE OF MONEY MANAGEMENT. European Research, 7, 10–15.

Vanishvili, M., & Shanava, Z. (2022). Challenges and Perspectives of Corporate Governance in Georgia. American Research Journal of Humanities & Social Science (ARJHSS) R, 05(04), 118–127.