DEVIZNI RIZIK: IZAZOV U FINANSIRANJU KOMPANIJA ZELENIM DUGOVIMA

 Peti naučni skup „Računovodstvena znanja kao činilac ekonomskog i društvenog napretka“ (2025) [579-592 str.]  

AUTHOR(S) / AUTOR(I): Milica Kaplarević

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DOI: 10.46793/RZ25.579K

ABSTRACT / SAŽETAK:

Klimatske promene predstavljaju jedan od najznačajnijih izazova savremenog doba koji zahteva sveobuhvatne strukturne promene i intenzivno ulaganje u ekološki održive projekte. U tom kontekstu, zelene finansije postaju ključni instrument za tranziciju ka niskougljeničnoj i održivoj ekonomiji. U ovom radu analizirani su instrumenti zelenog duga – zelene obveznice i zeleni krediti – kao dva različita, ali međusobno povezana instrumenta. Istraživanje je usmereno na mogućnosti i izazove u primeni ovih instrumenata u zemljama u razvoju. Doprinos rada se ogleda u identifikovanju deviznog rizika kao važnog izazova za kompanije, koji pri regularnom poslovanju može negativno da utiče na njihove novčane tokove, imovinu i obaveze, neto dobit i tržišnu vrednost, dok pri finansiranju ekoloških ciljeva može dodatno da ugrozi efikasnost njihovog ispunjenja. Posebna pažnja posvećena je instrumentima zelenog duga u Srbiji, kao primeru tržišta u razvoju, uz razmatranje dostupnih instrumenata zaštite od deviznog rizika. Rezultati istraživanja ukazuju na potrebu za daljim razvojem tržišta zelenih finansijskih instrumenata, unapređenjem institucionalnog okvira i kreiranjem mehanizama za ublažavanje deviznog rizika kako bi se podstakla dugoročna i održiva ulaganja korporativnog sektora zemalja u razvoju u zaštitu životne sredine.

KEYWORDS / KLJUČNE REČI:

zelene finansije, zelene obveznice, zeleni dugovi, devizni rizik, zemlje u razvoju

ACKNOWLEDGEMENT / PROJEKAT:

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