INVESTMENT FACTORS OF FINANCING ENVIRONMENTAL ACTIVITY: STUDY OF FOREIGN EXPERIENCE

The article studies and generalizes foreign experience in environmental financing, identifies the main tools for attracting investment resources and the possibility of introducing some aspects of European experience in Ukrainian conditions. It has been established that the amount of government spending on environmental protection in the countries of the European Union is defined as the sum of current expenditures on environmental protection activities and investments in environmental protection. A detailed analysis of the environmental protection expenditures of the European Union countries in the dynamics and breakdown of institutional sectors is carried out. It has been determined that the overwhelming majority of financing for the environmental activities of the countries of the European Union comes from enterprises (corporation sectors). The study of investing in environmental protection of the countries of the European Union showed that its share is only 21% of the total expenditures on environmental protection and is carried out mainly at the expense of enterprises. According to the study concludes that the environmental tax European Union has successfully fulfilled the regulatory and catalytic functions, and also acts as an instrument of environmental financing, which ensures the effective implementation of environmental policy. The generalized European experience indicates that environmental taxes act as an effective tool for financing environmental protection, subject to the following requirements: standards for environmental pollution charges should exceed the amount of funds needed to implement measures to prevent environmental damage; taxation of goods that are harmful to the environment (tax is included in the price), which will contribute to the displacement of environmentally hazardous goods from the market. The necessity of introducing in Ukraine certain aspects of the European experience in the implementation of environmental policy and the modernization of environmental taxation in order to fulfill its regulatory, stimulating and fiscal functions is proved.