Policy of an industrial enterprise on the implementation of environmental innovations in the transition to a green economy

Abstract

The relevance of this research is determined by the need for the economic transformation of industrial enterprises on the principles of environmental sustainability in the face of global environmental challenges, resource constraints, and increasing regulatory pressure. This situation necessitates the formation of an effective economic policy for implementing environmental innovations. The purpose of the study was to substantiate the theoretical and methodological foundations for developing an effective environmental policy for industrial enterprises in the context of integrating environmental innovations into strategic planning, aimed at achieving sustainable development, enhancing competitiveness, and ensuring socio-economic resilience. To achieve this goal, a set of general scientific and special methods was applied, including: analysis and synthesis for systematising scientific approaches; induction and deduction for logical generalisation; a systems approach for evaluating policy interconnections; structural-functional analysis for identifying the components of environmental policy; and a graphical method for visualising the integration of environmental objectives. The main goals of the environmental policy of industrial enterprises have been substantiated, including: minimising technogenic impact, rational use of resources, introduction of “green” technologies, compliance with environmental standards, and fostering an environmental corporate culture. The theoretical principles for integrating environmental objectives into the strategic planning of industrial enterprises have been substantiated. A policy for industrial enterprises to implement environmental innovations has been proposed, encompassing: strategic planning that considers environmental objectives; investment policy to support environmental innovations; development of human capital and competencies; the “quintuple helix” model for organising cooperation among various stakeholders; a monitoring and evaluation system for the effectiveness of implemented innovations to ensure compliance with environmental standards and to adjust development strategies; and corporate social responsibility aimed at building a positive image and promoting sustainable environmental practices. The research results can be applied to enhance the economic resilience of enterprises and facilitate their adaptation to the requirements of the green economy.