Assessing the integrity of the marketing policy promoting the country’s green brand as a catalyst for green investment
DOI:
https://doi.org/10.35774/visnyk2023.02.188Keywords:
sustainable development, greenwashing, ESG, brand, green marketing.Abstract
Introduction. In the modern globalized world, with a particular emphasis on environmental issues, countries increasingly recognize the importance of positioning themselves as leaders in sustainable development and attracting green investments. Marketing policies and strategies employed by countries to promote their green brand play a crucial role in shaping perceptions, attracting investors, and stimulating inclusive economic growth.
The paper aims is to determine the impact of greenwashing on a country’s green brand using a scientific and methodological approach based on the utilization of Google tools and content analysis. This approach allows for the consideration of stakeholders’ perception of misleading information about the country’s green brand and its achievement of Sustainable Development Goals.
Research Methods. The evaluation of the impact of greenwashing on a country’s green brand was conducted using a two-stage approach that integrates Google tools, content analysis, and Partial Least Squares Path Modeling (PLS-PM).
Results. The calculations revealed that the countries with the lowest greenwashing index values during 2006-2020 were Spain, the Netherlands, and Sweden. Ukraine fell into the group with an average level of greenwashing index, along with Poland, the Czech Republic, and Italy.
The research results indicate that in order to avoid the greenwashing trap, Ukraine needs to implement a system of measures for the formation of the “socially responsible business” institution, which, in turn, requires significant investment capital.
Perspectives. One of the directions for further research is to study the impact of regulatory policies and incentives on the integrity of marketing policies, which can serve as a basis for evaluating the effectiveness of approaches to promoting green investment through green brand promotion. Furthermore, it is advisable to expand the sample of countries and study the impact of ethical marketing policies on sustainability, encompassing economic, social, and environmental aspects.
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