Modern global economic systems are increasingly focused on the transition to innovative and "green" development models. Investments are becoming a key tool for transforming production and services toward environmental sustainability and technological efficiency. In 2024–2025, the global flow of "green" investments is expected to grow: according to the OECD, their volume exceeded $1.7 trillion, of which more than 40% is directed toward the development of renewable energy, industrial decarbonization, and the digitalization of environmental monitoring. Innovations in energy conservation, waste recycling, the production of environmentally friendly materials, and smart grids are attracting both private and public capital, creating the conditions for accelerated infrastructure modernization and carbon footprint reduction.

For Uzbekistan, these trends are particularly important: in 2023–2024, Investment in green energy increased by more than 28%, and in solar generation by 35%. The development of national programs such as "Yashil Energy 2030" and the "Digital Uzbekistan 2030" strategy are strengthening the role of private investment and innovative technologies in the modernization of industry, transport, and housing and utilities. New financial instruments are being developed—green bonds, ESG funds, and public-private partnerships—that enable the mobilization of resources for the transition to a low-carbon economy.

The scientific significance of the study lies in identifying the relationship between investment flows and innovation activity, as well as in analyzing the mechanisms by which they influence sustainable development. Its practical value lies in identifying effective models for attracting capital to environmentally oriented projects, developing recommendations for stimulating an innovative economy, and integrating international ESG standards into national investment policy.

investments, innovative economy, green economy, sustainable development, ESG, green bonds, digitalization, renewable energy, decarbonization, financial transformation.

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