The role of «green» innovation in economic security

The central role of green innovation in achieving sustainable development goals towards a green future was grounded. The existing approaches to the interpretation of the «green» innovation concept are analysed. Based on these approaches, two main characteristics are identified - eco- and resource-efficiency. The analysis of various interpretations of the «green» innovation concept enabled the identification of aspects, which summarize their principal properties. The «green» economy influencing factors were reviewed.

The analysis of the role of the «green» innovations reveals that, currently, the «green» innovation leaders benefit from the first-move advantage. It results in the possibility to set up higher prices on their eco-products, and, simultaneously, improves their corporate image and expands markets. The companies, which recognize the role of «green» innovation in the process of sustainable innovative development, align themselves towards the future with the «green» innovations. They are dedicated to the development of ecologically sustainable business models with the aim of negative effects mitigation of their activities. Their strategy definition takes into account the potential ecological problems.