GLOBAL EXPERIENCE OF DEVELOPING COUNTRIES IN FORMING INNOVATIVE MECHANISMS OF GREEN ECONOMIC GROWTH

The article examines the international experience of developing countries in creating and implementing innovative mechanisms to achieve green economic growth. The necessity of implementing such mechanisms to ensure sustainable economic development is substantiated. It is argued that innovative approaches are key to preserving the ecological balance and improving the well-being of the population. It was established that the effective use of natural resources requires the integration of environmental and economic strategies. Based on the set goal, various models and practices of green growth applied in developing countries are considered. Successful examples are studied and found that their adaptation can contribute to global sustainable development. Further perspectives of research should be aimed at studying the possibilities of scaling and optimization of these innovative mechanisms in the context of global challenges. It was determined that each country has its own characteristics due to the level of development of the country, its geographical location, the presence of natural resources and the specifics of the concepts, models and development tools used, which correspond to national priorities and accumulated experience, and therefore the transition to a "green" economy for different states will take place under different scenarios. It illustrates the benefits and challenges of implementing green innovation for developing countries using the example of China and its chart of China's key industrial strategies for green manufacturing. During the research of this topic, it was found that the consistent and effective implementation of the principles of "green" investment, as well as "green" development in general, is possible only in a regulatory environment, transparent and fair, developed in accordance with the principle of the rule of law, with independent courts procedures, with the participation of independent market regulators acting in accordance with national interests, respecting the rights of investors and consumers. On the other hand, for their principles of implementation a vital role is played by socially responsible business behavior, one of the key indicators of which is the attitude of business to environmental issues, the efficiency of resource use and energy efficiency, and the disclosure of socially significant non-financial information. It is noted that in Ukraine climate and investment policies function separately from each other, and sometimes their goals are mutually contradictory, which prevents or slows down investments in the development of "green" infrastructure.