Green investments are becoming increasingly important in the context of the global transition to a sustainable economy, but their effectiveness remains questionable due to the associated risks. This article provides a qualitative analysis of the prospects and risks of green investments based on a review of academic literature, reports from international organizations, and financial data. The results show a steady increase in investments and green bond returns, but reveal problems of market volatility, technological uncertainty, and “greenwashing”.

green investments, sustainable development, renewable energy, risks, returns, greenwashing, regulation.

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United Nations Environment Programme (UNEP). (2023). Emissions Gap Report 2023. Nairobi: UNEP. (A report containing data on the share of greenwashing projects (15%) and their impact on sustainable development.)

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