Most authors define the concept of a participatory budget as a way to decide together with the community on the use of public funds, where community members themselves propose ideas to the municipality and vote to select the ones they like best. The first participating budget in the world took place in Porto Alegre, Brazil. The main goals of the participatory budget are: to strengthen the local democratic culture, to involve the community in public affairs, to improve the quality of the living environment and public services. There are usually four stages in the process: idea development, project preparation, voting and implementation.
The blue economy is becoming the basis and the policy for new maritime technologies and sustainable maritime economic activity. According to the World Bank (2017), the challenges of the sustainable use of marine resources are related to the impact of climate change on rising sea levels, more frequent extreme weather events, and rising air temperatures. There is no doubt that this will have an impact on the performance of ocean-related business sectors. However, investment is needed for the blue economy to grow successfully. Financial institutions have an important role to play in financing sustainable projects. According to M. Janicka (2016: 27), financial institutions are usually associated with a policy of maximising profits rather than pursuing environmental action. However, there has been a change in the philosophy of these institutions, not only due to the increasing pressure on public authorities to take environmental issues into account, but also due to the changing attitudes of people in charge of financial institutions towards the environment. Investment decisions made by maritime businesses depend on many factors, but there is no doubt that successful profit-making should be reconciled with reducing resource intensity, making the development of the blue economy a modern-day pursuit. This may require significant investment from the public and private sectors. The term 'the blue economy' has been recognised for almost 15 years, but it is defined differently in various sources. R.E. Boschen-Rose et al. (2020: 835) define the concept of the blue economy as the sustainable use of ocean resources to promote economic growth, improve livelihoods, and enhance the state of ocean ecosystems. A. Alempijevi and A. Kovačic (2019: 97) describe the blue economy as a combination of sustainable development and green growth. Focus of the research: opportunities for sustainable investment in the development of the blue economy. Aim of the research: to identify sustainable investment opportunities in the development of the blue economy. Research methods: analysis of scientific literature, systematisation, generalisation and analysis of statistical data. The study shows that the successful development of the blue economy requires sustainable investment, and therefore needs to be given high priority. The European Union has put measures in place to finance this investment, and is creating a favourable environment to facilitate and encourage public and private investment in the blue economy. The study has revealed that the concept of sustainable investment should be understood as the concerted effort by technological progress, research, business and governments to invest in projects that include social, economic and environmental dimensions. A statistical analysis of sustainable investment trends in the development of the blue economy has shown that sustainable investment has the potential to grow in the future, but it is important to take into account the impact on the blue economy of the Covid-19 pandemic.
The blue economy is becoming the basis and the policy for new maritime technologies and sustainable maritime economic activity. According to the World Bank (2017), the challenges of the sustainable use of marine resources are related to the impact of climate change on rising sea levels, more frequent extreme weather events, and rising air temperatures. There is no doubt that this will have an impact on the performance of ocean-related business sectors. However, investment is needed for the blue economy to grow successfully. Financial institutions have an important role to play in financing sustainable projects. According to M. Janicka (2016: 27), financial institutions are usually associated with a policy of maximising profits rather than pursuing environmental action. However, there has been a change in the philosophy of these institutions, not only due to the increasing pressure on public authorities to take environmental issues into account, but also due to the changing attitudes of people in charge of financial institutions towards the environment. Investment decisions made by maritime businesses depend on many factors, but there is no doubt that successful profit-making should be reconciled with reducing resource intensity, making the development of the blue economy a modern-day pursuit. This may require significant investment from the public and private sectors. The term 'the blue economy' has been recognised for almost 15 years, but it is defined differently in various sources. R.E. Boschen-Rose et al. (2020: 835) define the concept of the blue economy as the sustainable use of ocean resources to promote economic growth, improve livelihoods, and enhance the state of ocean ecosystems. A. Alempijevi and A. Kovačic (2019: 97) describe the blue economy as a combination of sustainable development and green growth. Focus of the research: opportunities for sustainable investment in the development of the blue economy. Aim of the research: to identify sustainable investment opportunities in the development of the blue economy. Research methods: analysis of scientific literature, systematisation, generalisation and analysis of statistical data. The study shows that the successful development of the blue economy requires sustainable investment, and therefore needs to be given high priority. The European Union has put measures in place to finance this investment, and is creating a favourable environment to facilitate and encourage public and private investment in the blue economy. The study has revealed that the concept of sustainable investment should be understood as the concerted effort by technological progress, research, business and governments to invest in projects that include social, economic and environmental dimensions. A statistical analysis of sustainable investment trends in the development of the blue economy has shown that sustainable investment has the potential to grow in the future, but it is important to take into account the impact on the blue economy of the Covid-19 pandemic.
The blue economy is becoming the basis and the policy for new maritime technologies and sustainable maritime economic activity. According to the World Bank (2017), the challenges of the sustainable use of marine resources are related to the impact of climate change on rising sea levels, more frequent extreme weather events, and rising air temperatures. There is no doubt that this will have an impact on the performance of ocean-related business sectors. However, investment is needed for the blue economy to grow successfully. Financial institutions have an important role to play in financing sustainable projects. According to M. Janicka (2016: 27), financial institutions are usually associated with a policy of maximising profits rather than pursuing environmental action. However, there has been a change in the philosophy of these institutions, not only due to the increasing pressure on public authorities to take environmental issues into account, but also due to the changing attitudes of people in charge of financial institutions towards the environment. Investment decisions made by maritime businesses depend on many factors, but there is no doubt that successful profit-making should be reconciled with reducing resource intensity, making the development of the blue economy a modern-day pursuit. This may require significant investment from the public and private sectors. The term 'the blue economy' has been recognised for almost 15 years, but it is defined differently in various sources. R.E. Boschen-Rose et al. (2020: 835) define the concept of the blue economy as the sustainable use of ocean resources to promote economic growth, improve livelihoods, and enhance the state of ocean ecosystems. A. Alempijevi and A. Kovačic (2019: 97) describe the blue economy as a combination of sustainable development and green growth. Focus of the research: opportunities for sustainable investment in the development of the blue economy. Aim of the research: to identify sustainable investment opportunities in the development of the blue economy. Research methods: analysis of scientific literature, systematisation, generalisation and analysis of statistical data. The study shows that the successful development of the blue economy requires sustainable investment, and therefore needs to be given high priority. The European Union has put measures in place to finance this investment, and is creating a favourable environment to facilitate and encourage public and private investment in the blue economy. The study has revealed that the concept of sustainable investment should be understood as the concerted effort by technological progress, research, business and governments to invest in projects that include social, economic and environmental dimensions. A statistical analysis of sustainable investment trends in the development of the blue economy has shown that sustainable investment has the potential to grow in the future, but it is important to take into account the impact on the blue economy of the Covid-19 pandemic.
The blue economy is becoming the basis and the policy for new maritime technologies and sustainable maritime economic activity. According to the World Bank (2017), the challenges of the sustainable use of marine resources are related to the impact of climate change on rising sea levels, more frequent extreme weather events, and rising air temperatures. There is no doubt that this will have an impact on the performance of ocean-related business sectors. However, investment is needed for the blue economy to grow successfully. Financial institutions have an important role to play in financing sustainable projects. According to M. Janicka (2016: 27), financial institutions are usually associated with a policy of maximising profits rather than pursuing environmental action. However, there has been a change in the philosophy of these institutions, not only due to the increasing pressure on public authorities to take environmental issues into account, but also due to the changing attitudes of people in charge of financial institutions towards the environment. Investment decisions made by maritime businesses depend on many factors, but there is no doubt that successful profit-making should be reconciled with reducing resource intensity, making the development of the blue economy a modern-day pursuit. This may require significant investment from the public and private sectors. The term 'the blue economy' has been recognised for almost 15 years, but it is defined differently in various sources. R.E. Boschen-Rose et al. (2020: 835) define the concept of the blue economy as the sustainable use of ocean resources to promote economic growth, improve livelihoods, and enhance the state of ocean ecosystems. A. Alempijevi and A. Kovačic (2019: 97) describe the blue economy as a combination of sustainable development and green growth. Focus of the research: opportunities for sustainable investment in the development of the blue economy. Aim of the research: to identify sustainable investment opportunities in the development of the blue economy. Research methods: analysis of scientific literature, systematisation, generalisation and analysis of statistical data. The study shows that the successful development of the blue economy requires sustainable investment, and therefore needs to be given high priority. The European Union has put measures in place to finance this investment, and is creating a favourable environment to facilitate and encourage public and private investment in the blue economy. The study has revealed that the concept of sustainable investment should be understood as the concerted effort by technological progress, research, business and governments to invest in projects that include social, economic and environmental dimensions. A statistical analysis of sustainable investment trends in the development of the blue economy has shown that sustainable investment has the potential to grow in the future, but it is important to take into account the impact on the blue economy of the Covid-19 pandemic.
