Company’s image and greenwashing in the framework of green investment concept

Pimonenko Tetyana
Candidate of Еconomic Sciences, Assistant Professor, Sumy Stat University. E-mail:kanc@sumdu.edu.ua

Lyulyov Oleksii
Doctore of Еconomic Sciences, Assistant Professor, Sumy Stat University. E-mail:kanc@sumdu.edu.ua

Chygryn Olena
Candidate of Еconomic Sciences, Assistant Professor, Sumy Stat University. E-mail:kanc@sumdu.edu.ua

Cite this article:

Pimonenko T., Lyulyov O., Chygryn O., (2019) Company’s image and greenwashing in the framework of green investment concept. Ed.: М.D. Baldzhy (ed.-in-ch.) and others [Systema pensiinoho zabezpechennia Ukrainy ta yevrointehratsiini protsesy; za red.: М. D. Baldzhy (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 2(265), pp. 143-157.

Abstract

The paper deals with analyses of the main preconditions of the penetration of sustainable development goals and green growth into all sectors of the economy. Thus, the authors proved that increasing growth of green consciousness among the society provokes the business sector to reorient its activities considering the consumers’ requirements. In addition, the development of a green investment market provokes a transformation of investor behaviour during the making investment decisions. Besides, the world rating agencies and stock exchanges develop the ratings and green stock indices that estimate the efficiency of the company’s green brand using. The authors highlighted, that despite of the huge range investigation on green brand and green investment market the universally theory to define the meaning of green investment, the green image and brand have not been developed yet. In the paper, the authors proved the necessity of considering the stakeholders’ interests under the developing program of company’s green image promoting. At the same time, the authors systematized the main stakeholders of the company taking into account the specifics of green investments and the green brand. The authors highlighted, that greenwashing leads to decreasing the trust level of green brand. The authors proposed to implement a system for publishing non-financial reporting as a obligatory norm for companies with purpose to minimize the greenwashing using, The authors allocated and characterized the main marketing strategies of green brand promotion in order to attract additional green investments for company’s development. The authors have determined that the green brand promotion program should considering the stakeholders’ interests under developing of marketing strategy and green marketing instruments (both traditional and modern). The authors identified that further research is required to analyse the impact of gender, age and nationality on the stakeholders’ behaviour and the company’s green brand.

Keywords

investment, stakeholders, green brand, marketing communications, green marketing, promotion.

JEL classification: G100, O440, Q100; DOI: 10.32680/2409-9260-2019-2-265-143-157

UD classification: 339.138:502.3

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