Green finance in contemporary Europe: Green innovations vs green conservatism

Subject. The article discusses green financing in Europe at the present stage, support for green innovations vs negative attitudes towards them. Objectives. The aim is to assess the current state of green financing in Europe based on the analysis of its development and current problems. Methods. The study draws on traditional methods, like analysis and synthesis, retrospective analysis and forecasting, statistical analysis. Results. The paper assesses the past and planned transformations in the area of green finance in the EU. The analysis of the EU experience in green financing confirms that the EU has been an active participant in the international fight against adverse climate change for some time, and the European Green Deal is almost an all-encompassing plan for environmental transformations. However, the climate agenda in the EU and the Green Deal led to serious debates in the EU in 2023–2024. The reasons were primarily of financial and political nature. Conclusion. The paper concludes on prospects for further decarbonization and green financing in the EU amid government support accompanied by tighter environmental standards. It presents proposals for possible raising resources in green finance.