LEVEL APPROACHES TO THE INTERPRETATION OF THE CONCEPT OF ECONOMIC POTENTIAL

Abstract

The article is dedicated to a comprehensive analysis of contemporary challenges and opportunities associated with the implementation of environmental innovations in the business sphere. Literary sources are examined, and a unique perspective on the category of "environmental innovations" is proposed. These innovations encompass innovative solutions, technologies, products, or approaches aimed at reducing the negative impact of economic activities on the environment and promoting sustainable resource utilization. They cover a broad spectrum of sectors, including energy, manufacturing, transportation, construction, and others, with the goal of achieving a balance between economic development and natural resource conservation. The main aspects of eco-innovations are illuminated, and their types and classification are identified. Specifically, types of environmental innovations are distinguished, such as technological, product-based, commodity-based, organizational, regulatory, or marketing innovations. The article investigates the primary factors threatening the environmental sustainability of the business environment, including air and water pollution, inefficient resource utilization, and waste management. Key issues faced by enterprises are highlighted, including uncertainties about the effectiveness of environmental innovations, high implementation costs, market uncertainty, lack of government support, absence of standards, and technical limitations. The perspectives of implementing environmental innovations in business are discussed, emphasizing the importance of attracting investments and financial support. Positive aspects, such as resource conservation, increased productivity, and production quality, as well as improved corporate responsibility and the creation of a positive business image, are noted. Based on the conducted analysis, it is argued that the successful implementation of environmental innovations can be a crucial factor for sustainable development and attracting new investments.