Crowdfunding as a tool for investing in sustainable development projects and its place in the green finance ecosystem

Authors

DOI:

https://doi.org/10.21638/spbu05.2021.105

Abstract

This article discusses and substantiates the potential of “green crowdfunding” as a component of the ecosystem of green finance, including the consideration of its investment features in financing projects aimed at sustainable development. The main hypothesis under discussion is that crowdfunding technologies have the potential to increase the financial and commercial success of environmentally-oriented projects. The achievement of this goal is mediated by methods of analysis of empirical research, bibliometric and content analysis of publications in the framework of a systematic approach. The logic of this work predetermines the following range of tasks: outlining and characterizing the conventional classification of crowdfunding,
systematizing its modern forms; bibliometric and content analysis of the demand for the concept of green crowdfunding in foreign and domestic studies, as well as the selection of the conventional interpretation; systematization of the investment features of green crowdfunding projects; and highlighting the place of green crowdfunding in the ecosystem of green finance. Green crowdfunding, given the current limitations, remains largely adequate to the conditions of the ecosystem of green finance, as it supports the selection of green investments in the global environment of collective investment and interconnects the distributed sources of ideas in the field of sustainable development with funding sources. This is most relevant in the context of national economic crises and uneven market compression, where individuals from other regions and countries can easily be drawn to finance.

Keywords:

crowdfunding, ecosystem, green finance, sustainable development, crowd technology

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References

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Published

2021-06-11

How to Cite

Valko, D. (2021). Crowdfunding as a tool for investing in sustainable development projects and its place in the green finance ecosystem. St Petersburg University Journal of Economic Studies, 37(1), 109–139. https://doi.org/10.21638/spbu05.2021.105

Issue

Section

Sustainable development and green economy