EFFECTIVE IMPLEMENTATION OF ECO-INNOVATIONS BY SMALL AND MEDIUM-SIZED ENTERPRISES THROUGH THE MECHANISM OF INDUSTRIAL PARKS

In the article, the authors emphasize that Ukraine’s state policy is focused on the vector of European integration, and therefore its main task is environmental safety, in particular, building a ‘green’ economy of Ukraine aimed at preserving resources. As a result, the article focuses on the argumentation of the green growth concept, which is a tool for achieving the Sustainable Development Goals. The main principles of sustainable development are ecological balance, economic development, and social justice between generations. The introduction of eco-innovations by small and medium-sized enterprises is a basic criterion for the level of achievement of the Sustainable Development Goals. The priority of implementing eco- innovations by small and medium-sized enterprises is determined by the need to protect the environment. SMEs need to take effective steps to implement eco-innovations, which requires investment. Industrial parks are capable of solving these problems. To investigate the legal nature of the category of eco-innovation, ways of implementing eco- innovations by SMEs, to analyze the economic and legal criteria of the industrial park mechanism and SMEs as participants in the industrial park, and to substantiate the innovative potential of SMEs. The analysis of the doctrine and practice of Ukraine and the EU allowed us to construct the concept of eco-innovation, which is systemic in nature and permeates all aspects of a company’s activities. Eco-innovations are focused on reducing both production costs and waste and therefore minimize the environmental impact of companies’ activities. The effective implementation of eco-innovations is related not only to technological processes but also to the adoption of appropriate management decisions and the use of suitable financing mechanisms. The article considers industrial parks as a mechanism capable of creating an effective technological environment for the implementation of eco-innovations by SMEs. The article identifies the determinants that define the inherent nature of eco-strategies for sustainable development in modern industrial parks. The analysis of the doctrine and legislation of Ukraine and European countries has made it possible to define eco-innovation as a basic criterion for SMEs to achieve sustainable development goals, and industrial parks as the most effective mechanism for SMEs to realize their innovation potential. The introduction of eco-innovations by SMEs through the mechanism of industrial parks is an effective way to develop the “green industry” under the current crisis conditions of martial law and post-war economic recovery in Ukraine. At the same time, it is noted that in Ukraine, the mechanisms for the formation and interaction of innovation infrastructure do not have a clearly defined paradigm. This situation results in the weakness of industrial parks and their low innovation potential. One of the ways to address these problems, as identified by the authors, is to establish effective interaction between industrial park enterprises and the management company. Such an approach can enhance the innovation and investment activities of the park, reduce overall costs, and increase the environmental friendliness and efficiency of enterprises operating within the eco-industrial park.